CALGARY,
AB, May 1, 2024 /CNW/ - The Alberta Securities
Commission (ASC) and the Alberta
RCMP Federal Policing Integrated Market Enforcement Team (IMET)
announce that Kathleen (also known as Kathy) Debra Kelley of Calgary, Alberta, has been criminally charged,
following an investigation by the Joint Serious Offences Team
(JSOT).
Kelley has been charged with one count of fraud
over $5,000 contrary to section
380(1)(a) and one count of laundering the proceeds of crime
contrary to section 462.31(1)(a) of the Criminal Code. Through her
company Lonestar Services Inc., it is alleged that
Kelley raised over $2.4 million from
investors to invest on their behalf – primarily in the stock market
– but in fact did not invest those funds.
Kelley's first appearance in court is scheduled for May 28, 2024 in the Alberta Court of Justice, Calgary Court Center, 601 5 Street S.W.,
Calgary, Alberta.
JSOT gratefully acknowledges the assistance of the Financial
Transactions and Reports Analysis Centre of Canada (FINTRAC) in this matter. JSOT is an
enforcement partnership between the ASC and IMET. JSOT investigates
and prosecutes quasi-criminal cases under the Securities Act
(Alberta) and certain
securities-related criminal offences under the Criminal Code. In
particular, JSOT targets repeat offenders, serious frauds and
breaches of ASC or court orders and bans. The primary objective is
to protect investors and further enhance confidence in the
Alberta capital market through
collaborative investigations and prosecutions of serious violations
of the law using the provisions of the Securities Act
(Alberta) or the Criminal
Code.
The ASC is the regulatory agency responsible for administering
the province's securities laws. It is entrusted with fostering a
fair and efficient capital market in Alberta and with protecting investors. As a
member of the Canadian Securities Administrators, the ASC works to
improve, coordinate and harmonize the regulation of Canada's capital markets.
The IMET is a specialized unit under the RCMP Federal Policing
program that detects, investigates, and deters market
fraud. The IMET unit works closely with the ASC to
protect investors and further enhance confidence in Canada's capital markets.
SOURCE Alberta Securities Commission