ENFORCEMENT SUMMARY
| IN THE MATTER OF: | The Securities Act |
| AND IN THE MATTER OF: | JAMES HARVEY CAMERON A.K.A. JAKE CAMERON ("Cameron") |
Charges
On September 12, 2011, Judge Chapman of the Provincial Court of Manitoba accepted guilty pleas of Cameron to six counts of trading without registration contrary to section 6(1) of the Securities Act of Manitoba (the "Act") and one count of acting as a securities adviser without registration contrary to former section 6(6) of the Act.
Summary
The charges to which Cameron pled guilty involved one Manitoba investor. In 2006, Cameron made several investment recommendations to the Manitoba investor including providing documents describing some of the investments he was recommending. At the direction of Cameron, the Manitoba investor sent monies to two companies, CFJ Management Inc. ("CFJ") and Phoenix Capital Ltd. ("Phoenix"). The Manitoba investor forwarded $200,000 (Cdn) to Phoenix and $604,001.70 (USD) to CFJ.
The Manitoba investor was advised the monies sent to CFJ and Phoenix were invested in three companies, Cell Broadcast Group Inc., Futures Investment Corp. and Tempest Asset Management Inc. A portion of the monies sent to CFJ were also represented to be placed in a cash suspense account.
The Manitoba investor received statements from time to time from Phoenix and CFJ with the last statements being dated January 1, 2008. Despite requests for a proper accounting of the monies invested none were forwarded to the Manitoba investor. Other than receiving the sum of $22,419.00 (USD) in 2006, no other monies were received by the Manitoba investor.
Cameron was not registered to trade in securities or act as a securities adviser under the Act. Cameron had previously pled guilty in December 2005 to nine counts of trading in securities without registration contrary to the Act and was sentenced in June 2006.
Sentence
Cameron was sentenced on September 18, 2012 before Judge Chapman. Cameron was sentenced to a period of 9 months incarceration to be followed by a 1 year period of supervised probation with conditions including that he perform 100 hours of community service within 9 months. In passing sentence, the Court took into account this was not Cameron's first offence. Applicable costs and surcharge were waived.
The Manitoba Securities Commission