Commission panel finds businessman breached commission order

    VANCOUVER, Oct. 25 /CNW/ - A British Columbia Securities Commission panel
has upheld allegations that a North Vancouver businessman breached a 1999
    On February 23, 1999, James Terrence Alexander and his family holding
company JT Alexander and Associates Holding Corporation (JTA) entered into a
settlement agreement with the BCSC executive director.
    Admitting to violations of the Securities Act when he was president and
CEO of Arakis Energy Corporation, Alexander paid the BCSC $1.2 million and
consented to an order prohibiting him from being a director or officer of any
issuer, engaging in investor relations activities, and trading in securities,
for 20 years.
    On December 8, 2003, the executive director issued a notice of hearing
against Alexander, JTA and Anne Christine Eilers alleging, among other things,
that Alexander and JTA had contravened the consent order, and that Eilers,
Alexander's business associate, had assisted him in doing so.
    The executive director alleged that Alexander acted as a director and
officer of eight companies, including Pinewood Resources Ltd, and that he
engaged in investor relations activities.
    In 2005, a B.C. provincial court judge convicted Alexander of breaching
the 1999 order by acting as a director and officer of four private companies,
and fined him $2,000.
    The commission panel found that Alexander contravened the order when he
acted as a director and officer of seven companies - including Pinewood - and
when he engaged in investor relation activities for Pinewood. The panel also
found that Eilers assisted him in breaching the order by allowing him to
direct and manage the affairs of JTA.
    The panel dismissed allegations of unregistered trading against Alexander
and JTA, and allegations that Eilers had helped Alexander conceal his Pinewood
    In dissenting findings, commissioner Robin Ford found that the executive
director had not proved that Alexander acted as a de facto director and
officer of Pinewood, and dismissed all the allegations against Eilers.
    The panel directed the parties to make submissions on sanctions according
to the schedule set out in the findings.

    The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the province.
You may view the decision on our website by typing in the
search box, James Terrence Alexander or Anne Christine Eilers or 2007 BCSECCOM
645. If you have questions, contact Ken Gracey, Media Relations, 604-899-6577.

    Learn how to avoid investment fraud at the BCSC's investor education

For further information:

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

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