ASC seeks bans against Peter Sabourin et al.

CALGARY, Nov. 25 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate orders imposed by the Ontario Securities Commission (OSC) against Camdeton Trading Ltd., Camdeton Trading S.A., Sabourin and Sun Inc., Sabourin and Sun (BVI) Inc., Sabourin and Sun Group of Companies Inc., Peter Sabourin, W. Jeffrey Haver, and Greg Irwin on June 4, 2010.

According to the OSC's March 20, 2009 Merits Decision, Peter Sabourin, Camdeton Trading Ltd., Camdeton Trading S.A., Sabourin and Sun Inc., Sabourin and Sun (BVI) Inc., and Sabourin and Sun Group of Companies Inc. "solicited and sold investments they knew to be a sham, lied to and misled investors, and misappropriated up to $27.9 million of investors' funds." The OSC found that Peter Sabourin developed and orchestrated the investment schemes and sold the sham investments directly and through W. Jeffrey Haver and Greg Irwin, among others.  

ASC staff found that Alberta investors participated in the investment scheme. The ASC seeks reciprocation of the OSC orders to protect Alberta investors and the Alberta capital market.

It is anticipated that the ASC panel will consider this application in December 2010.

A copy of the 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