Settlements

Faron Arvid Stopsen [Sec. 144 & Agreed Stmt.]

BCSECCOM #:
Document Type:
Sec. 144 & Agreed Stmt.
Published Date:
1991-12-13
Effective Date:
1991-12-10
Details:


IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Faron Arvid Stopsen
Order Under Section 144
W.D. Nesmith
December 10, 1991

   ORDER:-- WHEREAS an Agreed Statement of Facts and Undertaking was executed by Faron Arvid Stopsen ("Stopsen") 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 Stopsen for a period ending June 6, 2000; and
2.
that pursuant to section 144(1)(d) of the Act, Stopsen is prohibited from becoming or acting as a director or officer of any reporting issuer for a period ending June 6, 2000.
W.D. NESMITH
Superintendent of Brokers

IN THE MATTER OF The Securities Act, S.B.C. 1985, c. 83
AND IN THE MATTER OF Faron Arvid Stopsen
Agreed Statement of Facts and Undertaking
W.D. Nesmith
December 10, 1991

   AGREED STATEMENT OF FACTS AND UNDERTAKING:-- The following agreement has been reached between Faron Arvid Stopsen ("Stopsen") and the Superintendent of Brokers (the "Superintendent"):

1.
As the basis for orders made under section 144 of the Securities Act, S.B.C. 1985, c. 83 (the "Act") withdrawing the statutory exemptions of Stopsen and prohibiting Stopsen from becoming or acting as a director or officer of any reporting issuer for a period of 9 1/2 years, Stopsen acknowledges that:
(a)
on November 6, 1990, he pleaded guilty to four counts of theft which read as follows:
(i)
that between the 21st day of October, 1987 and the 30th day of September, 1989, both dates inclusive, at or near Kelowna, County of Yale, Province of British Columbia, did commit theft of money, the property of James Harder, of a value in excess of $1,000.00, contrary to section 334(a) of the Criminal Code of Canada,
(ii)
that between the 22nd day of September, 1988 and the 27th day of June, 1989, both dates inclusive, at or near Kelowna, County of Yale, Province of British Columbia, did commit theft of money, the property of Sharon Johnson, of a value in excess of $1,000.00, contrary to section 334(a) of the Criminal Code of Canada,
(iii)
that between the 1st day of November, 1988 and the 20th day of February, 1989, both dates inclusive, at or near Kelowna, County of Yale, Province of British Columbia, did commit theft of money, the property of Boree and Karen Schartner, of a value in excess of $1,000.00, contrary to section 334(a) of the Criminal Code of Canada, and
(iv)
that between the 1st day of November, 1988 and the 14th day of August, 1989, both dates inclusive, at or near Kelowna, County of Yale, Province of British Columbia, did commit theft of money, the property of the Kinsman Club of Kelowna, of a value in excess of $1,000.00, contrary to section 334(a) of the Criminal Code of Canada;
(b)
the offences related to Stopsen accepting monies from clients while registered as a salesman (Mutual Funds) and converting the monies to his own use; and
(c)
on December 5, 1990, he was sentenced to eighteen months imprisonment in relation to the above offences;
2.
Stopsen hereby consents to orders of the Superintendent under section 144(1)(c) and 144(1)(d) of the Act whereby he is relieved of his exemptions contained in sections 30 to 32, 55, 58, 80 and 81 of the Act and he is prohibited from becoming or acting as a director or officer of any reporting issuer for a period of 9 1/2 years; and
3.
Stopsen waives his rights to a hearing and review by the British Columbia Securities Commission under section 147 of the Act with respect to the Order.
   DATED at Kelowna, British Columbia, on December 4, 1991.

Witness"Tami Colibaba""Faron Arvid Stopsen"
W.D. NESMITH
Superintendent of Brokers