CALGARY, Nov. 9, 2015 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Douglas John Vermeeren illegally raised more than $1.3 million without proper registration and without a prospectus or exemption. ASC staff also allege that Vermeeren made misleading or untrue statements to investors that included the risk level of the investments, his success in investing and the amount of funds he managed for investors.
Vermeeren is also facing allegations that he perpetrated a fraud on investors by converting investment funds for personal use or using investment funds to pay returns to other investors, and by misrepresenting his success in investing and the amount of funds he managed for investors.
ASC staff further allege that Vermeeren breached a March 14, 2013 ASC order banning him from trading in or distributing securities.
These allegations have not been proven.
An appearance to set a date for a hearing will be held on November 24, 2015 at 9:30 a.m.in the ASC Hearing Room, 5th Floor, 250 – 5th Street SW, Calgary, Alberta.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting 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: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488