CALGARY, March 28 /CNW/ - The Alberta Securities Commission (ASC) has
issued permanent market bans against former B.C. resident Ian Gregory Thow and
three B.C.-based businesses he owned or controlled. The reciprocal orders,
based on two decisions of the British Columbia Securities Commission (BCSC),
permanently prohibit Thow and the three businesses, 657594 B.C. Ltd., A.Y.G.
Investments Inc. and M600 Holdings Ltd. from trading in or purchasing
securities or relying on exemptions under the Alberta Securities Act. Thow is
also permanently prohibited from acting as a director or officer of any issuer
and from being registered in any capacity under Alberta securities laws.
The two BCSC decisions, dated October 27 and December 20, 2007, imposed
similar sanctions on Thow and the three businesses listed above. According to
the BCSC's findings, Thow illegally raised approximately $8.7 million from 26
people by encouraging them to invest in various securities that did not in
fact exist. Evidence presented to the ASC panel showed that two Alberta
residents provided Thow with $1.2 million.
In its decision, the ASC panel noted that even though there was no direct
evidence of activity in Alberta by Thow and the businesses listed above, the
evidence that ASC staff presented "persuade(s) us that, barring protective and
deterrent action in Alberta, other Albertans and the Alberta capital market
generally could be at risk from further misconduct by the Respondents."
A copy of this decision can be found on the ASC website at
A copy of the BCSC's decisions are available on the BCSC 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: Tamera Van Brunt,
Director, Communications and Investor Education, (403) 297-2664,
email@example.com; For Investor Inquiries: ASC Public Inquiries, Toll Free