TORONTO, Sept. 1, 2015 /CNW/ - The Ontario Securities Commission (OSC) announced today that Mark Lowman of Sharon, Ontario and Dave Jarrett of Keswick, Ontario have been charged with alleged breaches of the Securities Act (Ontario) following an investigation by the OSC's Joint Serious Offences Team.
Lowman and Jarrett were charged with one count of trading without registration as required by section 25(1) of the Securities Act and one count of trading in securities without a prospectus as required by section 53(1) of the Securities Act.
Lowman and Jarrett were further charged with one count of making prohibited representations with respect to the listing of securities contrary to section 38(3) of the Securities Act.
It is alleged that between June 2012 and March 2014, Lowman and Jarrett were involved in the trading and distribution in the securities of Asia Global Energy Limited (also known as 2215259 Ontario Inc.) and Enviro Global securities Corp. ("Asia Global"). It is further alleged that Lowman or Jarrett have never been registered with the Commission under the Securities Act and no prospectuses qualifying any Asia Global related securities have ever been filed with the Commission.
Lowman and Jarrett are scheduled to appear in court on this matter on September 18, 2015 at 9:30 a.m. in Courtroom # 205 at the Ontario Court of Justice, 50 Eagle Street, Newmarket, Ontario.
JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
SOURCE Ontario Securities Commission
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