CALGARY, Dec. 13, 2013 /CNW/ - Provincial Court of Alberta Judge Van Harten has handed Vendivision Inc. directors Sidney John Reisner and Gregory Daniel MacPherson conditional sentences of two years less a day for breaches of the Securities Act (Alberta), including failure to comply with an April 10, 2008 Alberta Securities Commission (ASC) order. Judge Van Harten also ordered that the men perform 200 hours of community service, and that each be banned for 15 years from trading in securities and from acting as directors or officers of any issuer.
In October 2013, the two men pleaded guilty to selling Vendivision securities, acting as directors and officers of Vendivision and other issuers, and selling Vendivision securities without registration and in breach of the ASC order.
As part of the conditional sentence, during the first year Reisner and MacPherson must remain in their homes 24 hours a day, seven days a week, and are not permitted any visitors.
Judge Van Harten also issued compensation orders against Reisner and MacPherson that direct the men to jointly and separately pay certain investors approximately $275,000. Reisner was handed a separate compensation order directing him to pay $45,000 to an investor.
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.
SOURCE: Alberta Securities Commission
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