CALGARY, Dec. 13, 2013 /CNW/ - Provincial Court of Alberta Judge Van
Harten has handed Vendivision Inc. directors Sidney John Reisner and
Gregory Daniel MacPherson conditional sentences of two years less a day
for breaches of the Securities Act (Alberta), including failure to comply with an April 10, 2008 Alberta
Securities Commission (ASC) order. Judge Van Harten also ordered that
the men perform 200 hours of community service, and that each be banned
for 15 years from trading in securities and from acting as directors or
officers of any issuer.
In October 2013, the two men pleaded guilty to selling Vendivision
securities, acting as directors and officers of Vendivision and other
issuers, and selling Vendivision securities without registration and in
breach of the ASC order.
As part of the conditional sentence, during the first year Reisner and
MacPherson must remain in their homes 24 hours a day, seven days a
week, and are not permitted any visitors.
Judge Van Harten also issued compensation orders against Reisner and
MacPherson that direct the men to jointly and separately pay certain
investors approximately $275,000. Reisner was handed a separate
compensation order directing him to pay $45,000 to an investor.
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:
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Toll Free 1.877.355.4488