Settlements

MARC PAUL CRIMENI [Sec. 161 & Agreed Stmt]

BCSECCOM #:
Document Type:
Sec. 161 & Agreed Stmt
Published Date:
1998-01-02
Effective Date:
1997-12-04
Details:


COR#97/245

IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF MARC PAUL CRIMENI


Order Under Section 161

WHEREAS on July 27, 1997 the Executive Director of the British Columbia Securities Commission issued a Temporary Order and Notice of Hearing pursuant to s.161(2) of the Securities Act, R.S.B.C. 1996, c.418 (the “Act”) in respect of Marc Paul Crimeni;

AND WHEREAS Crimeni and the Staff of the Commission entered into an Agreed Statement of Facts dated December 4, 1997, and agreed to a proposed settlement of the proceedings respecting Crimeni subject to the approval of the Commission;

AND WHEREAS Crimeni has agreed to certain sanctions;

AND WHEREAS Crimeni has agreed to pay $2500.00 toward the costs of the investigation undertaken by the Commission Staff;

AND UPON reviewing the Agreed Statement of Facts, which are attached to this Order, and hearing submissions from counsel for Staff and for Crimeni;

AND UPON the Commission considering that it is in the public interest to make this Order;

IT IS ORDERED, effective December 4, 1997, that:

1. Crimeni resign any position he holds as a director or officer of a reporting issuer;

2. Crimeni is prohibited from becoming or acting as a director or officer of any reporting issuer for two (2) years from the date of this Order;

3. Crimeni is prohibited from engaging in investor relations for a period of two (2) years from the date of this Order;

4. Crimeni is required to take and complete, before he may again become a director or officer of a reporting issuer in British Columbia, the Securities Program offered by Simon Fraser University through its Applied Business Program, consisting of Going Public and Continuous Disclosure;

5. Crimeni will contribute $2500.00 toward the costs of the investigation in this matter, which will be paid on or before February 2, 1998.



DATED at Vancouver, British Columbia, on December 15, 1997.








Joyce C. Maykut, Q.CDiane K. Wolch
Vice ChairMember


Peter A. Manson, Q.C.
Member
.




IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418


AND


IN THE MATTER OF MARC PAUL CRIMENI



Agreed Statement of Facts


1. The Commission Staff and Marc Paul Crimeni (the “Respondent”) agree as follows:
      1.1 On April 22, 1995, an Information was sworn charging the Respondent and Lily Lisa Crimeni with two counts as follows:
          (a) cultivating marijuana, contrary to section 6(1) of the Narcotic Control Act;
          (b) unlawfully possessing marijuana for the purpose of trafficking.

      1.2 on June 9, 1995, an Information was sworn charging the Respondent with one count of breach of the Storage, Display, Handling and Transportation of Certain Firearms Regulations, and one count of having in his possession a prohibited weapon, a .357 Magnum handgun;

      1.3 Both Informations arose out of the same set of circumstances;

      1.4 on September 22, 1995, the Respondent, having become a director of Boswell International Technologies Ltd. (“Boswell”), completed a Form 4B, pursuant to the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”), which he signed on September 22, 1995 and filed with the British Columbia Securities Commission (the “Commission”) on October 2, 1995. In answer to question 8(b): Are you the subject of a current charge, indictment or proceeding for an offence?”, the Respondent answered: “No”

      1.5 the Respondent was aware, prior to completing the Form 4B, of the charges laid against him;

      1.6 on November 8, 1995, the Information sworn against the Respondent concerning the firearms breaches was amended to include two further counts:
          (a) first, that he had in his possession a prohibited weapon, nanchako sticks, contrary to the Criminal Code; and
          (b) second, that he was storing a .22 calibre rifle, in breach of the Firearms Regulations;

      1.7 on November 15, 1995, a stay of proceedings was entered on both counts pertaining to the charges against the Respondent under the Narcotic Control Act;

      1.8 by letter dated December 28, 1995, the Registration Staff of the Commission asked the Respondent to reconsider his answer to question 8(b) in Form 4B;

      1.9 on January 8, 1996, the Respondent pleaded guilty to the charge of improperly storing a firearm, was given a conditional discharge, and was placed on six months probation by Provincial Court Judge E.A. Arnold.

      1.10 by letter dated January 16, 1996, the Respondent answered the letter from Registration Staff of December 28, advising that he did not have a charge pending, he had not been convicted, and, he had no criminal record;

      1.11 as a result of becoming a director of Boswell, the Respondent was granted certain options to purchase shares in Boswell, which he exercised and from which he gained an economic benefit.




DATED at Vancouver, British Columbia, on December 4, 1997.







“James A. Angus”“Paul Kent-Snowsell”
_________________________
Counsel for Commission Staff		________________________
Counsel for the Respondent
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