CALGARY, March 26 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the British Columbia Securities Commission (BCSC) against Manna Trading Corp Ltd., Manna Humanitarian Foundation, Legacy Capital Inc., Legacy Trust Inc., Hal (Mick) Allan McLeod, David John Vaughan, Kenneth Robert McMordie (also known as Byrun Fox), and Dianne Sharon Rosiek.
An October 22, 2009 BCSC decision found that McLeod, Vaughan, McMordie and Rosiek perpetrated a "deliberate and well-organized fraud that resulted in the loss of at least US$10.4 million...by more than 800 investors in British Columbia and elsewhere." The BCSC decision also states that Manna Trading Corp Ltd., Manna Humanitarian Foundation, Legacy Capital Inc., and Legacy Trust Inc. were the entities used to perpetrate this fraud. The BCSC found that McLeod, Vaughan, McMordie and Rosiek fraudulently used investors' funds to enrich themselves before the scheme collapsed in 2007.
ASC staff allege that Alberta investors participated in the scheme.
It is anticipated that the ASC panel will consider this application in May 2010.
A copy of the Notice of Hearing is available 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 with fostering a fair and efficient capital market in Alberta and with protecting 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: Tamera Van Brunt, Director, Communications and Investor Education, (403) 297-2664; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488