CALGARY, June 24 /CNW/ - The Alberta Securities Commission (ASC) has
imposed a seven-year trading ban on Robert Vincent Bartel of Calgary for his
role in the illegal sale of McKinley North Ventures Inc., NOF Electrical
Generation Inc., Mountain Star Capital Corp., and Resolute Financial Corp.
securities. The ASC panel decision also prohibits Bartel from acting as an
officer or director of any issuer or using any Alberta securities laws
exemptions for a period of seven years. In addition to this, the panel has
ordered Bartel to pay an administrative penalty of $40,000 and costs of
The ASC panel found that Bartel illegally raised over $235,000 from
approximately nine Alberta investors through his sales of McKinley and NOF
securities. Also, as a director and the guiding mind of Mountain Star and
Resolute, Bartel was responsible for the trades of securities of those
issuers, which raised over $480,000 from approximately 55 investors. The panel
found some of these trades to be illegal.
In its decision, the ASC panel ruled that "Bartel's misconduct was
serious" and that "Bartel has demonstrated no remorse for his misconduct or
the harm it has caused Alberta investors." In handing down the sanctions, the
panel noted "the sanctions we order must make clear the consequences for such
misconduct and create trepidation in the minds of those considering future
illegal or non-compliant activities in the Alberta capital market."
A copy of this decision can be found 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
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488