After admitting to market manipulation, Edmonton-based Kenneth Richardson has settled with the Alberta Securities Commission.

Richardson admitted to the trading of Agau Resources, Inc. from January 1, 2005 to May 31, 2005, during which time, the majority of his trades were upticks, trades made at a higher price than the last trade, around the opening and closing of the markets. The ASC charges that he ought to have known his actions would result in a misleading appearance of trading activity and an artificial price.

Richardson settled for $40,000, however, under the settlement he’s agreed not to trade in or purchase securities, use any Alberta securities exemptions, or act as director or officer of any issuer for five years.