09:46:27 EDT Sun 24 Mar 2019
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Alberta Securities Commission
Symbol C : *ASC
Recent Sedar Documents

ASC bans, fines Calgary lawyer Anderson for Bluforest

2019-03-12 15:13 ET - Street Wire

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

The Alberta Securities Commission has reached a $90,000 settlement with Calgary lawyer Norman David Anderson for his part in the Bluforest Inc. pump-and-dump. The regulator said that Mr. Anderson helped the man accused of running the scheme, Cem Can (also known as Jim Can), by setting up offshore accounts to hold large numbers of Bluforest shares. He continued to participate in the scheme even after the ASC contacted him about a growing spam campaign touting Bluforest, one that ultimately helped boost the stock to $2 (U.S.).

Mr. Anderson's sanctions are contained in a settlement agreement that the ASC released on Monday, March 11. His $90,000 penalty includes a $70,000 fine and the payment of $20,000 in the ASC's costs. He has also agreed to a ban that will effectively keep him away from the markets for eight years. During the ban, he is not permitted to be an officer or director of any company except for a single personal professional corporation, nor is he allowed to provide securities-related legal services.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2019 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.