ASC Alleges Fraud Against Blue Sky Resorts and Others

CALGARY, April 11 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Calgary-based Blue Sky Resorts Inc., related entities Mandyland Inc. and Blue Sky Lease Inc. and their principals, Margaret Uhersky, Dennis Uhersky and Jeremy Davis, breached Alberta securities laws by defrauding investors and illegally trading and distributing securities in Alberta.

ASC staff allege that between August 2005 and July 2009, the  companies noted above raised at least $2.75 million from investors. ASC staff also allege the companies and their principals made misrepresentations to investors and perpetrated a fraud by using more than $1 million of the investor funds for personal purposes.

An appearance to determine a date for hearing is set for Thursday, May 12, 2011 at 10:30 a.m. in the ASC Hearing Room, 5th Floor, 250 - 5 Street S.W., Calgary, Alberta.

A copy of the Notice of Hearing outlining the allegations in their entirety is available on the ASC website at

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 Media Inquiries:

Lorinda Brinton
Senior Advisor, Investor Education
For Investor Inquiries: 

ASC Public Inquiries
Toll Free 1-877-355-4488



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