CALGARY, March 17 /CNW/ - The Alberta Securities Commission (ASC) has
found that Calgary resident Robert Bartel engaged in illegal trades and
distributions of securities of McKinley North Ventures Inc., NOF Electrical
Generation Inc., Mountain Star Capital Corp., and Resolute Financial Corp. to
investors in Alberta.
In its decision, an ASC panel determined that Bartel "exhibited a serious
disregard for Alberta securities laws" when he "engaged in conduct that denied
investors the fundamental protections afforded by the registration and
prospectus requirements of the Act." The panel found that between 2002 and
2005 Bartel illegally raised over $350,000 from approximately 13 investors
through his sales of NOF and McKinley securities. The panel also found that,
as director and guiding mind of Mountain Star and Resolute, Bartel was
responsible for the illegal trades of those securities, raising over $480,000
from approximately 55 investors. During this time period, Bartel was not
registered under the Securities Act to trade in securities.
According to the panel's decision, the money invested in the four
companies through Bartel's selling efforts appears to have been, for the most
part, lost. The ASC panel will now determine what sanction orders, if any,
ought to be made against Bartel in the public interest.
A copy of this decision can be found on the ASC website at
The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.
For further information:
For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications & Investor Education, (403) 297-2664,
firstname.lastname@example.org; For Investor Inquiries: ASC Public Inquiries, Toll Free