ASC concludes $20,000 settlement with Neil Andrew McDonald

CALGARY, Sept. 29 /CNW/ - The Alberta Securities Commission (ASC) has received $20,000 from Neil Andrew McDonald to settle allegations of perpetrating a fraud and making false or misleading statements to investors.

Under the settlement agreement, McDonald paid $15,000 to settle the allegations and $5,000 towards costs.  He also agreed, for a period of 15 years, to refrain from:

• trading in or purchasing securities or exchange contracts;
• using any Alberta securities laws exemptions;
• acting as a director or officer of any public company;
• becoming or acting as a registrant, investment fund manager or promoter;
• advising in securities or exchange contracts; and
• acting in a management or consultative capacity in connection with activities in the securities market.

In the settlement agreement, McDonald admitted that between February and April 2009, he raised $439,000 by telling seven Alberta investors that he would purchase guaranteed investment certificates, when in fact he used $260,000 of the investors' funds to buy securities in another company in his own name and that of his business partner. McDonald deposited the balance of the investors' money into a numbered company owned and controlled by him. On his own initiative, McDonald has repaid the investors their money.

A copy of the settlement agreement is posted 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