ASC issues Notice of Hearing against Jan Gregory Cerato for illegal distributions of investments involving cryptocurrencies
CALGARY, March 4, 2020 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging that Jan Gregory Cerato, also known as Jan Strzepka, engaged in illegal distributions of securities. Cerato solicited members of the public to invest in a fund, referred to as the "Whale Club," that would pool investor capital to buy, trade and hold cryptocurrencies in order to generate a profit.
According to the Notice of Hearing, Cerato began issuing Whale Club investments in December 2017, raising at least $190,000. The Notice of Hearing alleges that these investments are distributions of securities within the meaning of the Securities Act (Alberta), and that Cerato breached securities laws by selling these investments without a prospectus and without qualifying for any prospectus exemptions.
The allegations have not been proven.
An appearance to set a date for a hearing will be held on Wednesday, April 15, 2020 at 2:30 p.m. in the ASC Hearing Room on the 5th floor, 250 – 5 Street SW, Calgary, Alberta.
A copy of the Notice of Hearing can be found on the ASC website at albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
The term "securities" is broadly defined and includes a wide range of investments. The ASC reminds anyone approached about an investment opportunity to visit CheckFirst.ca to learn about the red flags of fraud and see if their investment professional is registered to sell securities or has been named in any proceedings.
SOURCE Alberta Securities Commission
For Media Inquiries: Hilary McMeekin, Manager, Communications, 403.592.8186; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488
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