CALGARY, AB, Aug.1, 2024 /CNW/ -The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated Market Enforcement Team (IMET) announce that Cheryl-Lynne Braun (a.k.a. Cheryl-Lynn or Cheryl-Lynne Dodd), of Edmonton, has been sentenced to 12 months in jail. Braun pleaded guilty to three counts of fraud over $5,000, contrary to section 380(1)(a) of the Criminal Code, following an investigation by the Joint Serious Offences Team (JSOT).

In 2016 and 2017, Braun solicited $268,000 from nine individuals for what she described as real estate related investments. These individuals were led to believe they would receive high returns. Braun instead used investor funds for unauthorized purposes, including gambling, personal expenses and paying previous investors.

Following a previous criminal conviction for fraud in April 2007, the ASC issued an order in September 2007 permanently prohibiting Braun from trading in any securities and permanently prohibiting her from using any exemptions available under Alberta securities laws. These prohibitions remain in effect.

JSOT gratefully acknowledges the assistance of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the RCMP Strathcona detachment 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