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SOURCE Alberta Securities Commission
CALGARY, Sept. 10, 2013 /CNW/ - Amarinder Singh (Mark) Lall has plead guilty to a charge of fraud in the Provincial Court of Alberta. This and other charges were brought against Lall by the Alberta Securities Commission (ASC) in November 2011.
In admitting the fraud, Lall agreed that he received $875,000 from an investor and converted the funds to his own use, rather than investing the money on his client's behalf. He also plead guilty to breaking Alberta securities laws by making misleading statements, trading in a security without being registered, and distributing a security without a prospectus or applicable exemption. The ASC withdrew charges that Lall provided investment advice without being registered and engaged in a further illegal trade and distribution.
Provincial Court Judge Skene ordered a pre-sentence report and psychological assessment be completed by January 8, 2014. The formal sentencing hearing is scheduled for January 21, 2014.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
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