CALGARY, Oct. 26, 2012 /CNW/ - The Alberta Securities Commission (ASC) has charged Blaine Russell Kennedy and Adam Gilchrist Drybrough in the Provincial Court of Alberta with fraud, making false statements, trading in securities without a prospectus and unregistered trading. The charges relate to ASC staff allegations that since 2007, Kennedy and Drybrough illegally sold securities of the Lucid group of companies to Alberta investors.
A first appearance in Provincial Court for Kennedy and Drybrough is scheduled for 8 a.m. on November 28, 2012, at the Calgary Court Centre.
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 markets.
SOURCE: Alberta Securities Commission
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