Kenneth Charles Fowler sentenced to 12-month conditional sentence order

CALGARY, AB, June 3, 2024 /CNW/ - The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated Market Enforcement Team (IMET) announce that Kenneth Charles Fowler (a.k.a. Ken Davidson) of Calgary, was sentenced to a 12-month conditional sentence on May 29, 2024 at the Alberta Court of Justice. Fowler pleaded guilty to one count of disobeying a court order, contrary to section 127 of the Criminal Code, for acting in any capacity that would require registration.

The guilty plea and sentencing follows a 2022 investigation by the Joint Serious Offences Team (JSOT) and charges that were laid in 2023 for three offences under the Criminal Code. The investigation found that Fowler solicited funds from investors and traded in securities between 2018 and 2022 using the name Ken Davidson, associated with the Finkle Street Trading Company. A previous ASC investigation led to charges against Fowler in 2014 for breaching Alberta securities laws, which resulted in a guilty plea and conviction in 2017 for fraud, unregistered trading, and illegal distribution.

The conditional sentence order includes terms that Fowler remains under house arrest for the first three months and must pay restitution in the amount of US$50,000 to one of the victims. It also includes several market access bans where Fowler:

• is prohibited from acting in a capacity that would require registration under the Securities Act;
• is prohibited from engaging in investor relations activities as defined under the Securities Act; and
• is prohibited from acting as an issuer or officer of any issuer as defined under the Securities Act.

JSOT is an enforcement partnership between the ASC and IMET. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act and certain securities-related criminal offences under the Criminal Code. In particular, JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans. The primary objective is to protect investors and further enhance confidence in the Alberta capital market through collaborative investigations and prosecutions of serious violations of the law using the provisions of the Securities Act (Alberta) or the Criminal Code.

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.

IMET is a specialized unit under the Alberta RCMP Federal Policing program that detects, investigates, and deters market fraud. The IMET unit works closely with the ASC to protect investors and further enhance confidence in Canada's capital markets.

SOURCE Alberta Securities Commission

For Media Inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]