BCSC Executive Director's Bulletin: Securities regulator alleges Ponzi scheme and issues temporary order

    VANCOUVER, June 22 /CNW/ - The Executive Director of the British Columbia
Securities Commission has issued a notice of hearing and temporary order
alleging that five B.C. individuals committed fraud, made false statements to
prospective investors and illegally raised at least $7 million by selling loan
contracts. The temporary order prohibits trading in securities of any issuer
directed, managed or promoted by the respondents until July 4, 2007.
    The notice of hearing says that, since at least June 2005, Hal (Mick)
Allan McLeod, David John Vaughan, Kenneth Robert McMordie (a.k.a. Byrun Fox),
Dianne Sharon Rosiek and Robert (Robb) Murray Perkinson have been selling
securities to investors in the form of high-yield loan contracts.
    Among other things, the notice alleges that the respondents told
investors that experienced traders would invest their funds, but instead they
directed the funds to the control of the individual respondents and used them
to perpetrate a Ponzi scheme.
    These allegations have not been proven. A hearing will be held on the
12th Floor Hearing Room, 701 West Georgia Street, Vancouver, British Columbia,
on July 4, 2007 at 10:00 a.m. At the hearing, counsel representing the
Executive Director will ask the Commission to extend the temporary order until
a decision is rendered.

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view notices of hearings on our website www.bcsc.bc.ca. If you have
questions, contact Ken Gracey, Media Relations, 604-899-6577.

For further information:

For further information: Ken Gracey, (604) 899-6577 or (B.C. & Alberta)

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