Senior sentenced to jail time for breaching securities laws
Published Monday, August 18, 2014 1:39PM MDT Last Updated Monday, August 18, 2014 6:31PM MDT
A 70-year-old Calgary man is facing several counts of breaching Alberta securities law and will spend the next 27 months in prison.
Robert Andrew McPherson has been found guilty by a provincial court of 12 counts of breaching Alberta securities laws.
McPherson was charged in January 2012 in connection with illegally raising funds for Alexander Exploration Inc, Hazelwood Energy Ltd. and Tilston Resources Ltd.
McPherson was found guilty of trading in securities without being registered, distributing securities without a prospectus or applicable exemption and breaching a 2006 Alberta Securities Commission order that banned him from trading in securities and acting as an officer or director of any issuer.
Provincial Court Judge Camp also ordered McPherson be permanently banned from:
- Trading in or purchasing securities
- Using any Alberta securities laws exemptions
- Acting as an advisor or a manager, or in a consulting capacity
- Becoming or acting as a director or officer of any issuer, registrant or investment fund manager, or promoter.