ASC alleges Concrete Equities' Vincenzo De Palma violated Alberta securities
laws

CALGARY, Oct. 29 /CNW/ - The Alberta Securities Commission (ASC) has issued an Amended Notice of Hearing against Calgary residents Varun Vinny Aurora, David Jones, David Humeniuk and Vincenzo De Palma.  The Amended Notice of Hearing restates the allegations made by ASC staff on August 16, 2010 against Aurora, Jones and Humeniuk.  It also includes new allegations that Aurora, Jones, Humeniuk and De Palma illegally distributed securities and that De Palma breached Alberta securities laws by acting as a dealer without being properly registered.

ASC staff allege that Aurora, Humeniuk and Jones, as directors and officers of Concrete Equities and multiple related companies and limited partnerships, made several serious omissions and misrepresentations by failing to fully disclose material, non-arms length contracts connected to the securities being sold, and by failing to disclose Humeniuk's lifetime withdrawal from the Real Estate Council of Alberta to investors. ASC staff also allege that Aurora, Jones, Humeniuk and De Palma, as directors and officers of Concrete Equities and multiple related companies and limited partnerships, illegally distributed securities to investors without filing a prospectus or properly relying on valid exemptions.

An appearance to set a date for a hearing will be held on November 10, 2010 at 1 p.m. in the ASC Hearing Room on the 6th Floor, 300 - 5th Avenue S.W., Calgary, Alberta. 

A copy of the Amended Notice of Hearing is available on the ASC website at www.albertasecurities.com.

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 Media Inquiries:	Mark Dickey Senior Communications Advisor 403.297.4481
For Investor Inquiries:	ASC Public Inquiries Toll Free 1.877.355.4488