ASC alleges illegal distributions, misrepresentations, and fraud by St. Albert man
23 Dec, 2014, 16:25 ET
CALGARY, Dec. 23, 2014 /CNW/ - Alberta Securities Commission (ASC) staff have issued a Notice of Hearing alleging that Optam Holdings Inc., Infinivest Mortgage Investment Corporation and their principal, Wade Robert Closson, took part in illegal distributions of Optam Holdings and Infinivest Mortgage Investment securities in phony multi-million dollar mortgage investment schemes.
It is also alleged that Wade Robert Closson made misrepresentations to investors, fraudulently raised funds from investors in a Ponzi scheme, used investor funds for unauthorized purposes, failed to disclose material financial information and authorized, permitted or acquiesced in the conduct of Optam Holdings and Infinivest Mortgage Investment that violated Alberta securities laws.
These allegations have not been proven.
An appearance to set a date for a hearing will be held on February 11, 2015 at 2 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street S.W., 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 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
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