VANCOUVER, Dec. 18, 2013 /CNW/ - The Executive Director of the British
Columbia Securities Commission has issued a notice of hearing alleging
that a B.C. company and three individuals distributed securities
The notice alleges that between May 2007 and January 2008, Wireless
Wizard Technologies Inc. (WWTI), Raymond Michael Roger Sasseville,
Edith Marie Sasseville, and Richard Keller promoted and distributed
WWTI's securities, in the form of convertible debentures, to eight
investors for a total of $162,500.
Raymond Sasseville is a former director of WWTI, and Edith Sasseville is
currently the company's sole director. Keller is a Certified Management
Accountant and was WWTI's Chief Financial Officer. All three are B.C.
residents, and none have ever been registered to sell securities under
the Securities Act. In 2003, Raymond Sasseville entered into a
settlement agreement with the commission with respect to an illegal
distribution involving a different issuer.
WWTI's purported business was to develop and market a global positioning
system (GPS) for motorcycles, and a wireless technology for conducting
sales via text message. The company has never filed a prospectus in B.C.
BCSC staff contends that the Sassevilles and Keller each participated in
the illegal distribution of WWTI's securities, and that each
authorized, permitted or acquiesced in WWTI's contravention of
securities laws regarding registration and prospectus requirements.
These allegations have not been proven. Counsel for the Executive
Director will apply to set dates for a hearing into the allegations
before a panel of commissioners on January 21, 2014 at 9:00am.
You may view the notice of hearing on our website www.bcsc.bc.ca by typing Wireless Wizard Technologies Inc., Raymond Michael Roger
Sasseville, Edith Marie Sasseville, Richard Keller or 2013 BCSECCOM 545
in the search box. Information regarding disciplinary proceedings can
be found in the Enforcement section of the BCSC website. Please visit the Canadian Securities
Administrators' Disciplined Persons List for information relating to persons disciplined by provincial
securities regulators, the Investment Industry Regulatory Organization
of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA).
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial
government agency responsible for regulating capital markets in British
Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by
A securities market that is fair and warrants public confidence
A dynamic and competitive securities industry that provides investment
opportunities and access to capital
SOURCE: British Columbia Securities Commission
For further information:
Richard Gilhooley, Media Relations
604-899-6854 or 1-800-373-6393 (toll free)
Learn how to protect yourself and become a more informed investor at www.investright.org