ENFORCEMENT SUMMARY
IN THE MATTER OF: THE SECURITIES ACT
AND IN THE MATTER OF: Sheldon Heidebrecht ("Heidebrecht")
CHARGES
On August 20, 2008, Heidebrecht entered guilty pleas to 9 charges of trading without registration contrary to section 6(1) of The Securities Act and 9 charges of trading without a prospectus contrary to section 37 of The Securities Act.
SUMMARY
Heidebrecht was promoting investments in a company called Oceana Pictures Incorporated. The charges to which Heidebrecht pled guilty involved nine (9) investors who purchased shares of Oceana Pictures Incorporated. Oceana Pictures Incorporated was represented to be a company engaged in the production of a feature length film. In total, the nine investors invested the sum of $376,387.50. To date, none of the investors have received any return of their investment nor has the production of the film been completed.
SENTENCE
Heidebrecht was sentenced on March 3, 2009 before Judge Corrin of the Provincial Court of Manitoba. Judge Corrin imposed a fine of $45,000.00 and, in addition, imposed costs and surcharges in the amount of $9,900.00. Heidebrecht was subsequently given time to pay the imposed fine, costs and surcharges.
The Manitoba Securities Commission
July 14, 2009