The Alberta Securities Commission has charged Thomas Seto with breaching a cease-trading order and ignoring an ASC ban on holding directorships.

Seto’s case will be heard in provincial court, the commission said Wednesday. In 2000, the ASC ordered Seto to cease trading in securities and not act as a director or officer for five years, for his part in unlawfully establishing an Internet stock exchange.

ASC staff allege that Seto broke the conditions of the cease-trade order by trading in securities of Genoray Ltd. in 2002. The commission also says Seto has acted as a director and officer of two Alberta corporations, violating the order.

Three other charges have been laid over a misrepresentation that Genoray would be listed on a stock exchange at a given price, advising an investor to buy securities while not registered to do so and misleading ASC staff during the investigation.

Seto is to appear in court October 27 in Edmonton.