Settlements

Harlod Richard Lepp [Sec. 144 & Agreed Stmt]

BCSECCOM #:
Document Type:
Sec. 144 & Agreed Stmt
Published Date:
1992-06-12
Effective Date:
1992-06-05
Details:

IN THE MATTER OF the Securities Act, S.B.C. 1985, chapter 83
AND IN THE MATTER OF Harlod Richard Lepp
Order Under Section 144
W.D. Nesmith
June 5, 1992

STATUTES CITED:
Securities Act, S.B.C. 1985, c. 83, ss. 30, 31, 32, 55, 58, 80, 81, 144(1)(c), 144(1)(d).

   ORDER:--  WHEREAS an Agreed Statement of Facts and Undertaking was executed by Harold Richard Lepp ("Lepp") and the Superintendent of Brokers (the "Superintendent"), a copy of which is attached hereto as Schedule "A";

   NOW THEREFORE the Superintendent, considering that it would be in the public interest to do so, orders by CONSENT:

1.
that pursuant to section 144(1)(c) of the Securities Act, S.B.C. 1985, c. 83 (the "Act"), the exemptions contained in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to Lepp for a period ending May 29, 2017; and
2.
that pursuant to section 144(1)(d) of the Act, Lepp is prohibited from becoming or acting as a director or officer of any reporting issuer for a period ending May 29, 2017.

W.D. NESMITH
Superintendent of Brokers

* * * * *
SCHEDULE "A"
Agreed Statement of Facts and Undertaking

   The following agreement has been reached between Harold Richard Lepp ("Lepp") and the Superintendent of Brokers:

1.
As the basis for the undertakings referred to in paragraphs 2 and 3 of this agreement, Lepp acknowledges the following facts to be correct:
(a)
On November 19, 1991 Lepp pleaded guilty to four counts of theft which read as follows:
(i)
between the 23rd day of May, 1989 and the 30th day of May, 1989, at or near Victoria, in the Province of British Columbia, (Lepp) did commit theft of twenty five thousand dollars ($25,000.00), the property of [Redacted] and [Redacted], contrary to Section 334(a) of the Criminal Code,
(ii)
between the 12th day of September, 1990 and the 8th day of March, 1991, at or near Victoria, in the Province of British Columbia, (Lepp) did commit theft of money, the property of [Redacted], of a value in excess of one thousand dollars ($1,000.00), contrary to Section 334(a) of the Criminal Code,
(iii)
between the 2nd day of April, 1990 and the 24th day of June, 1991, at or near Victoria, in the Province of British Columbia, (Lepp) did commit theft of money, the property of [Redacted] and [Redacted], of a value in excess of one thousand dollars ($1,000.00), contrary to Section 334(a) of the Criminal Code, and
(iv)
on or about the 3rd day of July, 1990, at or near Victoria, in the Province of British Columbia, (Lepp) did commit theft of money, the property of [Redacted], of a value in excess of one thousand dollars ($1,000.00), contrary to Section 334(a) of the Criminal Code;
(b)
the offenses related to Lepp accepting funds from clients while registered as a mutual fund salesman under the Securities Act, S.B.C. 1985, c. 83 (the "Act") and converting the funds to his own use; and
(c)
on November 19, 1991 Lepp was sentenced to four concurrent terms of two years less a day of imprisonment in relation to the aforementioned offenses.
2.
Lepp hereby consents to an order under section 144(1)(c) of the Act that the exemptions described in sections 30 to 32, 55, 58, 80 and 81 of the Act do not apply to him for a period of twenty five years.
3.
Lepp hereby consents to an order under section 144(1)(d) of the Act that he be prohibited from becoming or acting as a director or officer of any reporting issuer for a period of twenty five years.
4.
Lepp waives any right he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to this agreement and related order.

H.R. LEPP

W.D NESMITH
Superintendent of Brokers