Mr. Mark Dickey reports
ASC ALLEGES ILLEGAL DISTRIBUTIONS, PROHIBITED REPRESENTATIONS AND UNFAIR PRACTICES IN SALES OF SECURITIES BY PLATINUM EQUITIES INC.
Alberta Securities Commission staff have issued a notice of hearing alleging that Platinum Equities
Inc. and its principals, Shariff Chandran and Chitra Chandran, took
part in illegal distributions of the securities of a number of Platinum
Equities-affiliated real-estate-investment vehicles.
It is also alleged that Platinum Equities and its principals
authorized, permitted or acquiesced in the making of prohibited
representations contained in an offering memorandum and various other
promotional materials published in connection with two different
offerings promoted by Platinum Equities, and generally failed to
implement and maintain appropriate oversight of Platinum Equities
An appearance to set a date for the hearing regarding these allegations
is scheduled for 1:30 p.m. on Oct. 10, 2012, in the ASC hearing room,
5th floor, 250 -- 5th St. Southwest, Calgary, Alta.
A copy of the notice of hearing can be found on the ASC website.
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