CALGARY, Aug. 29 /CNW/ - The Alberta Securities Commission (ASC) has
issued a cease trade order against Daryl Joseph Klein and Kleincorp Mgmt.
Inc., carrying on business as "Insta-Cash Loans". The ASC issued this
reciprocal order following a British Columbia Securities Commission order that
sanctions Klein and Kleincorp for raising apporoximately $14.8 million through
illegal trades and distributions of Kleincorp securities. This number includes
16 Alberta investors who invested approximately $475,000 in Kleincorp.
The ASC order prohibits Klein and Kleincorp. from trading in or
purchasing any securities or relying on any exemptions under Alberta
securities laws until October 17, 2026, with one exception for trades made by
Klein through a registrant. Klein is also ordered to resign from, and is
prohibited from acting as, a director or officer of any issuer until at least
October 17, 2026, with one exception for dissolving, winding down or filing a
proposal in bankruptcy for an issuer.
A copy of the ASC decision is available on the ASC website at
A copy of the British Columbia Securities Commission's order, and the
settlement agreement is available on its website at www.bcsc.bc.ca.
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
Communications Advisors, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, (403) 297-4296, Toll Free 1-877-355-0585