The Alberta Securities Commission (ASC) has issued an interim cease trade order against Puerto Vallarta, Mexico based LandBankers International MX S.A. de C.V., BonZac Asociados S.A. de C.V. and Saskatchewan resident Kelly Friesen for the illegal marketing of securities.
The interim cease trade order, in effect for 15 days, ceases all trading of LandBankers securities, prohibits LandBankers, BonZac, and Friesen from trading in any securities and denies them the use of exemptions under the Alberta Securities Act. The ASC issued the interim cease trade order after hearing evidence from ASC staff that LandBankers and Friesen had conducted a sales seminar in Red Deer and that they had sold LandBankers securities without registration to Alberta investors.
Both the ASC and Quebec’s securities commission have issued investor warnings regarding LandBankers and the Saskatchewan Financial Services Commission recently issued a similar cease trade order against LandBankers and Friesen.
The next appearance has been scheduled for 9:00 am, January 11, 2008 in the ASC Hearing Room on the 6th Floor, 300 - 5th Avenue, Calgary, Alberta. At that time, the ASC will consider whether to extend the interim order.
A copy of the Interim Cease Trade Order and the Notice of Hearing can be found at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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For further information please contact:
For Media Inquiries: Mark Dickey
Senior Communications Advisor
403.297.4481
media@seccom.ab.ca
For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488