CALGARY, Sept. 14, 2012 /CNW/ - Alberta Securities Commission (ASC)
staff have issued a Notice of Hearing alleging that Platinum Equities
Inc. and its principals, Shariff Chandran and Chitra Chandran, took
part in illegal distributions of the securities of a number of Platinum
Equities-affiliated real estate investment vehicles.
It is also alleged that Platinum Equities Inc. and its principals
authorized, permitted or acquiesced in the making of prohibited
representations contained in an offering memorandum and various other
promotional materials published in connection with two different
offerings promoted by Platinum Equities Inc., and generally failed to
implement and maintain appropriate oversight of Platinum Equities Inc.
An appearance to set a date for the hearing regarding these allegations
is scheduled for 1:30 p.m. on October 10, 2012 in the ASC Hearing Room,
5th floor, 250 - 5th Street SW, Calgary, Alberta.
A copy of the Notice of Hearing 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 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
SOURCE: Alberta Securities Commission
For further information:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488