The Alberta Securities Commission has released sanctions against David Del Bianco and George Kondrat for their part in the illegal distribution of shares of Equal Rights Legal Defense Alliance Inc.

Earlier this year, the ASC found that Del Bianco and Kondrat breached the securities laws by raising nearly $23,000 selling Equal Rights securities without being registered and without receiving a receipt for a prospectus.

In its decision, the panel stated that “Although this was not a large illegal distribution, we view any illegal distribution as a serious matter.” The commission also found that “Equal Rights was operated with almost total disregard for the regulatory requirements of the Alberta Securities Act.”

The ASC ordered that Del Bianco cease trading in securities, be prohibited from acting as a director or officer of any issuer, and be denied the exemptions in Alberta securities laws, all for a period of four years. In addition, he was ordered to pay an administrative penalty of $10,000 and partial costs of the hearing of $5,000.

Del Bianco was the president, CEO, corporate secretary and director of operations of Equal Rights. The panel, in its decision, stated, “In our view, his continued participation in Alberta’s capital markets would constitute a potential threat to investors and jeopardize the integrity of our capital markets.”

The panel also ordered that Kondrat cease trading in securities, be prohibited from acting as a director or officer of any issuer, and be denied the exemptions in Alberta securities laws, all for a period of three years. In addition, he was ordered to pay an administrative penalty of $5,000 and partial costs of the hearing of $5,000. Kondrat was the Alberta director of sales for Equal Rights.

Equal Rights securities have been cease traded until further order of the ASC.

A copy of the Reasons for Decision can be found on the Alberta Securities Website at www.albertasecurities.com.