CALGARY, Nov. 6, 2015 /CNW/ - The Alberta Securities Commission (ASC) has issued an Interim Cease Trade Order against Calgary businessman Arnold Breitkreutz, his office manager Susan Elizabeth Way and two companies owned and controlled by Breitkreutz, Base Finance Ltd. and Base Mortgage & Investments Ltd.
The interim order is in effect for 15 days and prohibits all trading in securities issued by Breitkreutz' companies. The order also prohibits Breitkreutz, Way and the companies from trading in all securities or using Alberta securities laws exemptions. An ASC panel issued the Interim Cease Trade Order after hearing evidence from ASC staff that Breitkreutz and his companies traded and distributed securities without being registered, and without a prospectus or applicable exemption.
ASC staff continue their investigation into this matter. Anyone who has been contacted by someone on behalf of Breitkreutz or from one of his companies is asked to contact the ASC Public Inquiries Office at 403-355-4151 or 1-877-355-4488. Investors are cautioned against sending money to any of the named parties while an Interim Cease Trade Order is in place.
On September 29, 2015, the ASC also issued an order freezing funds in a bank account belonging to Base Finance Ltd.
On October 15, 2015, the Alberta Court of Queen's Bench issued an order appointing a receiver of the assets of Base Finance Ltd., Base Mortgage and Investments Ltd, Arnold Breitkreutz, Susan Breitkreutz, Susan Way and GP Energy Inc. Information about the receivership proceedings can be found at http://www.extranets.bdo.ca/base/.
A copy of the Interim Cease Trade Order can be found 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 Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488