News Release
The Registrar Of Mortgage Brokers And The British Columbia Securities Commission Suspend The Registration, Freeze The Assets And Cease The Trading Of Eron Mortgage Corporation, Capital Productions Inc., Brian Slobogian And Frank Biller
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Date:
1997-10-10 -
Number:
97/30
Released: October 3, 1997
Contact: Al Clark
Director, Investigations
FICOM, 660-2508
Barbara Barry
660-4800 or
(BC only) 1-800-373-6393
Vancouver - The Registrar of Mortgage Brokers has today suspended the registration of Eron Mortgage Corporation under the Mortgage Brokers Act, and frozen related corporate bank accounts.
The Company had offices in Victoria and Vancouver.
The British Columbia Securities Commission has issued a Temporary Cease Trade Order and Notice of Hearing to stop any trading in securities and to prohibit the principals of Eron Mortgage Corporation, Brian Slobogian and Frank Biller, from being directors and officers of any company in B.C.
Allegations which led to the suspension of Eron Mortgage Corporation by the Registrar of Mortgage Brokers include improper transfer of investor funds between investment projects, deficient record keeping, and the raising of funds for non-performing mortgages. In addition, as these companies and individuals are alleged to have been trading in securities without being registered and without receiving a receipt for a prospectus, they were cease traded by the British Columbia Securities Commission.
Investors with questions can telephone a 24 hour toll free number 1-888-249-9299.