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Sherwood Park Entrepreneur Out Of Securities Trading For 10 Years
The Alberta Securities Commission has fined Sherwood Park entrepreneur Pat Cochrane $110,000, and banned him from trading securities for 10 years.
This is the second time Cochrane has been fined by the Commission. In 2005, Cochrane was fined $10,000, and was actually selling securities without being registered.
On both occasions, the Commission found that Cochrane was misrepresenting the prospects of Innovative Energy Solutions, a company that is undergoing bankruptcy proceedings in the United States. Approximately 90 people had invested $1.1 million in the inflated stock.
The entire ASC decision is right here.
Date of Story: Saturday, March 22, 2008
Story Posted By: Ron Reinhold
Source: Ron Reinhold/ASC
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