The Alberta Securities Commission has determined that Toronto-area residents David Campbell, Carlos Da Silva, Tim McCarty, Jacob Moore, Ove Simonsen, Eric O’Brien, Hank Ulfan and Rick Clynes contravened Alberta securities laws while promoting shares of Limelight Entertainment Inc.

The ASC panel found that between January 2004 and January 2006, “some 249 Alberta investors who purchased Limelight shares have apparently been left with a worthless, illiquid investment. Some $817,000 raised from Alberta investors has disappeared.”

Other ASC panel findings include:

  • Limelight, Campbell, Da Silva, McCarty, Moore, Simonsen, O’Brien, Ulfan and Clynes illegally traded and distributed Limelight shares;
  • Da Silva, Moore, Simonsen, O’Brien and Ulfan made prohibited representations to investors; and
  • Campbell made misleading statements to ASC investigators.



The ASC says the panel will consider submissions from the parties before it decides what, if any, sanctions it should impose.