ASC Finds Kustom Companies and Synergy Group (2000) Inc. Engaged in Illegal
Trading

CALGARY, April 27 /CNW/ - The Alberta Securities Commission (ASC) has found that Kustom Design Financial Services Inc., Kustom Design Group Inc., Hightide Management Inc. (the Kustom companies), Michael Edward Lepitre, Mark Adrian Jones, Synergy Group (2000) Inc. and Leonard Jonathan Zielke engaged in illegal trades in and distributions of securities. An ASC panel also found that Kustom Design Financial and Lepitre acted as investment advisors without being registered to do so.

In its decision, the ASC panel found that each of the parties named above traded and distributed securities in contravention of the registration and prospectus requirements of the Alberta Securities Act. In its decision, the panel noted that "the registration and prospectus requirements are the key provisions of Alberta securities laws whose objectives are to protect investors and instil in investors confidence in the integrity of our capital market. The Respondents engaged in conduct that deprived investors of the benefit of these fundamental protections."

The ASC panel found that between 2004 and 2007 the Kustom companies and Synergy Group together raised more than $8 million, primarily from Alberta investors.

The ASC panel will consider any submissions received from ASC staff and the parties named above before it decides what, if any, sanctions it should impose in this case.

A copy of the decision is posted on the ASC website at www.albertasecurites.com.

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.

SOURCE Alberta Securities Commission

For further information: For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890