News Release
Trio settles with BCSC
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Date:
2005-06-10 -
Number:
2005/34
Vancouver -- The British Columbia Securities Commission has reached settlements with a trio who admitted to breaching securities laws as part of activities in raising close to $27-million from investors in B.C. and elsewhere.
Brent Gordon Edgson, Mark Stephen Heeres, and Del Michel Albert Delisle have each been banned from trading securities, from being a director or officer of any issuer, and from engaging in any investor relations activities except in limited circumstances:
Edgson has agreed to pay the BCSC $40,000 while Heeres will pay $2,500. The settlements noted that had there been any reasonable prospect of the sanctions being paid, Heeres would have been required to pay a $30,000 sanction and Delisle would have been required to pay $10,000.
The three men admitted violating securities laws, including acting contrary to the public interest, when they helped sell investments in 526053 B.C. Ltd., a B.C. numbered company owned by James Nelson McCarney, without a prospectus and without being registered to trade securities. In all, about $26.6-million was raised from 1,435 investors in seven provinces and other locations worldwide.
Individually, Edgson distributed and sold to about 395 investors raising more than $3-million -- $225,000 of that from nine investors in B.C. Heeres raised about $100,000 from seven B.C. residents, $336,000 from two U.S. residents, and about $800,000 US from two German residents. Delisle was responsible for raising about $177,000 from 12 B.C. residents.
McCarney and Trevor William Park who were involved in this matter have settled with the BCSC. Copies of their settlements are available at the BCSC’s website.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlements on our website www.bcsc.bc.ca by typing in the search box the names above or 2005 BCSECCOM 391, 393 & 395. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.