ASC Imposes 25-year Ban on Rodney Koch for Selling Sea Sun Capital Securities

    CALGARY, Aug. 18 /CNW/ - The Alberta Securities Commission (ASC) has
ordered Rodney Koch, chair of Sea Sun Capital Corporation, to cease trading
securities and has denied him the use of Alberta securities exemptions for 25
years as a result of illegal distributions of Sea Sun Capital securities. The
ASC panel also imposed a 25-year director-and-officer ban on Koch and ordered
him to pay a $225,000 administrative penalty.
    The ASC panel permanently banned trading in Sea Sun Capital securities
and banned Sea Sun Capital from trading in any securities. It also imposed a
six-year director-and-officer ban and a $25,000 administrative penalty against
former Sea Sun Capital president and chief executive officer Graham
    These orders follow the ASC panel's findings that, between 2003 and 2007,
millions of dollars were illegally raised from the sale of securities relating
to a marine tourism operation without registration, prospectus or appropriate
exemptions. The ASC panel stated that Koch, Sea Sun Capital and Millington,
"raised a large amount of money from many investors, over a prolonged period,
contrary to some of the most basic elements of Alberta securities laws. Our
sanctions must be such that others, who might otherwise be tempted to emulate
(them), perceive that the consequences can be sharp and serious." A copy of
the Decision is available on the ASC website at

    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.

For further information:

For further information: For Media Inquiries: Mark Dickey, Senior
Advisor, Communications, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, (403) 297-4296, Toll Free 1-877-355-4488

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890