ASC Orders Kroeker, Kamerling And Furusho To Pay $195,000 In Penalties And Costs



    CALGARY, Oct. 11 /CNW/ - An Alberta Securities Commission (ASC) panel has
ordered Tracy Lee Kroeker of St. Albert, Alberta to pay $45,000, and
Beverly Kamerling and Tolan Shigeo Furusho of Bellevue, Washington to each pay
$75,000 in administrative penalties and costs to the ASC. In addition, the ASC
panel ordered that each is banned from the Alberta capital markets (with
limited exceptions) as follows: Kroeker for seven years; Kamerling
permanently; and Furusho for 10 years.
    On June 15, 2007, the ASC panel found that in February and March 2004
much of the approximately US$300,000 raised during the sale of shares in a
Nevada company known at that time as Goldtech Mining Corporation was illegally
raised in Alberta. The panel also found that Kroeker, Kamerling and Furusho
had a significant role in the illegal sales of those shares to Alberta
residents.
    In its decision, the panel noted that Kroeker, Kamerling and Furusho
"engaged in a course of conduct in the Goldtech distribution that ... deprived
Alberta investors of the basic protections to which they were entitled by law.
This was serious misconduct." The panel concluded that "this is a case in
which significant sanctions against each respondent are in the public
interest."
    A copy of the decision in its entirety is posted on the ASC website at
www.albertasecurities.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.





For further information:

For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664; For Investor
Inquiries: ASC Public Inquiries, (403) 297-4296, 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