The Alberta Securities Commission (ASC) has imposed a six-month trading ban on Edmonton resident Timothy Lawler and his company Daystar Holdings Inc., it announced today.

Lawler and the company are prohibited from trading under Alberta securities laws for six months and must pay an administrative penalty of $20,000 and costs of $6,000, according to a release. An ASC panel found that Lawler and Daystar illegally distributed securities of Coadum Capital Fund 1, LLC, a Delaware company.

Daystar and Lawler admitted that they solicited Alberta residents through newspaper advertisements and seminars, offering an investment in Coadum that promised a secure principal and earnings of up to 8% per month. Neither Lawler nor Daystar were registered with the ASC, and no prospectus was ever filed with the ASC on behalf of Coadum.

The panel ruled that Lawler and Daystar’s conduct “brought into question the integrity and reputation of the Alberta capital market and is deserving of sanction.”