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by Mike Caswell
A judge in the Provincial Court of Alberta has handed down a two-year jail term for Caroline Meyers, the Calgary woman who recently returned to Canada from the United States after answering fraud charges in that country. Ms. Meyers received the sentence in an appearance on Monday, June 28, before Judge Catherine Skene. In addition to the jail term, the judge permanently banned Ms. Meyers from the markets.
The jail term, which is the first ever handed down in Alberta for market manipulation, stems from the 2010 pump-and-dump of Coastal Pacific Mining Corp. The Alberta Securities Commission, which brought the charges, said that the company went to 64.5 cents from five cents during a promotional campaign that Ms. Meyers and another co-accused arranged. It is not clear how much money Ms. Meyers realized from the scheme, if any, and her sentence does not include any fines.
The sentence for Ms. Meyers comes seven months after her co-accused, Joseph Bucci, received an 18-month conditional term (meaning he did not go to jail). At the time the ASC said that it would have sought a jail term for Mr. Bucci, were it not for unspecified health problems. Mr. Bucci had pleaded guilty to the charges. Like Ms. Meyers, he received a permanent ban from the markets.
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I met her once. Gave her $200 US for a future deal. Never saw it again. Probably better than getting certs for a scam though.
IM sure with the technology we have today the money that was scammed could be traced. Now these criminals will live a lavish life style at the expense of honest people. Maybe they should fined the money that was stolen and give it back to the people who lost it. As for as it goes for the fine well that a joke.