ASC charges Neil Andrew McDonald with fraud in Provincial Court

CALGARY, Oct. 30, 2012 /CNW/ - The Alberta Securities Commission has charged Neil Andrew McDonald in the Provincial Court of Alberta with three counts of fraud.  ASC staff brought forward the allegations along with16 additional charges in connection to alleged illegal trading of securities by McDonald.  These additional charges include making false statements, acting as an advisor and dealer without being registered, distributing securities without a prospectus and breaching an undertaking to the ASC's Executive Director.

McDonald will make a first appearance in Provincial Court in Calgary, Alberta on 14 charges at 8 a.m. on November 21, 2012.  He will make a first appearance on the remaining five charges in Provincial Court in Brooks, Alberta at 10 a.m. on November 28, 2012.

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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