OSC Lays Charges against Howard Rash in Ontario Court of Justice

TORONTO, June 15 /CNW/ - The Ontario Securities Commission (OSC) said that on June 8, 2010, three charges were laid in the Ontario Court of Justice under Section 122 of the Securities Act against Howard Rash. Mr. Rash has been served with a summons to appear on June 22, 2010, at 10:30 a.m. at the Ontario Court of Justice at 50 Eagle Street in Newmarket, Ontario, in courtroom 205.

Mr. Rash is charged with one count of securities fraud and two counts of breaching cease trade orders made by the Commission. These orders were made on July 27, 2006, and July 23, 2007.

The allegations relate to the trading of securities by Mr. Rash in 2007 and 2008 through a company called Global Energy Group, Ltd.

Pursuant to Section 122 of the Securities Act, anyone found guilty of an offence and on conviction is liable to a fine of not more than $5 million or to imprisonment for a term of not more than five years less a day, or to both.

For further information: For media inquiries: Wendy Dey, Director, Communications & Public Affairs, 416-593-8120; Theresa Ebden, Senior Communications Specialist, 416-593-8307; Robert Merrick, Senior Communications Specialist, 416-593-2315; For investor inquiries: OSC Contact Centre, 416-593-8314, 1-877-785-1555 (Toll Free)