The Alberta Securities Commission reports a hearing has been scheduled for September 25, regarding the conduct of Mark Cramer in British Columbia under the reciprocal enforcement provisions of the Alberta Securities Act.
In the notice of hearing, ASC staff seek an order in Alberta similar to that made on May 22, 2003 by the British Columbia Securities Commission.
The BCSC order prohibited Cramer from using exemptions and from holding a director or officer position for 12 years, with some exceptions.
The B.C. regulator’s order was based on findings that Cramer had:
- engaged in illegal distributions of securities of River Ranch Resort (VCC) Corp., River Ranch Resort (VCC II) Corp., River Ranch Limited Partnership, River Ranch Financial Corp., River Ranch Capital Corp., Quantum Value Ventures (VCC) Corp. and Strategic Concepts Investment Trust;
- made misrepresentations about material facts respecting the issuers named above; and
failed to suitably advise clients while acting as a registered securities dealer.
ASC staff allege that it is in the public interest for the ASC to issue an order in Alberta against Cramer, a Calgary resident, for his admitted breaches of the securities laws of B.C.
A copy of the Notice of Hearing is available on the ASC Web site.