Calgary man settles with ASC for illegal trading, misleading investors and fraud

CALGARY, June 17, 2016 /CNW/ - The Alberta Securities Commission (ASC) has concluded a Settlement Agreement with Douglas John Vermeeren who admitted to making misleading or untrue statements to investors, and to engaging in conduct relating to Monthly Millionaire Mentor Ltd. securities that perpetrated a fraud on investors.

Vermeeren also admitted that he entered into loan agreements with at least 43 investors from Alberta and elsewhere, raising in excess of $735,000, while not registered as a dealer.  By committing these acts, Vermeeren breached a March 14, 2013 ASC order banning him from trading in or distributing securities. 

As part of the Settlement Agreement, Vermeeren paid the ASC $130,000 and agreed to cease trading in securities or derivatives, and to refrain from acting as a director or officer of any issuer, registrant or investment fund manager for ten years.

A copy of the Settlement Agreement can be found 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 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.

SOURCE Alberta Securities Commission

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