News Release
Commission Extends Orders in Corporate Express Club Matter
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Date:
2000-01-14 -
Number:
2000/02
Released: January 7, 2000 Contact: Michael Bernard
899-6500 or
(BC only) 1-800-373-6393
Vancouver – A B.C. Securities Commission panel has extended cease trade orders against four people and four companies who were offering offshore investments they said would pay returns of up to 10,000 per cent to investors.
The extension of the orders, imposed Dec. 9, was granted at the request of commission staff, who asked for additional time to complete their investigation. The orders will continue until the hearing, now scheduled to commence May 1.
The orders prohibit the individuals from trading in securities, from acting as officer or director of any company issuing securities or from engaging in investor relations activities. They were applied against company principals John Thomas McCarthy of Surrey, Cameron Willard McEwen and Patrick Thomas Stojak, of North Vancouver, and Lynn Ilene Sorsdahl, a scholarship plan sales representative in Kelowna, B.C.
The companies are Corporate Express Inc, also know as Corporate Express Club and Corporate Express Club (CEC) 1988, Fortress International Ltd., Great American Gold Ltd. and Offshore Knowledge Network. Corporate Express was incorporated in the Bahamas with a head office in Surrey, B.C.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province. Copies of the commission ruling are available at the commission’s Web site (www.bcsc.bc.ca) or by phoning Communications Manager Michael Bernard.