ENFORCEMENT SUMMARY
IN THE MATTER OF: THE SECURITIES
ACT (the "Act")
AND IN THE MATTER OF: TROY REEVES
CHARGES
On November 1, 2005, Judge Newcombe accepted the guilty plea of Troy Reeves ("Reeves") to four counts of offences under section 136(1)(c) of the Act, being four counts of trading without registration.
SUMMARY
Reeves became associated with an individual who was promoting investments
in small business corporations. The charges involved four investors who
invested money for shares of either Cuatro Corp. or Sonnum Capital Corporation.
Two of the investors invested the sum of $78,700.00 and $83,000.00 respectively
for shares of Cuatro Corp. while the other two investors invested the
sum of $13,000.00 and $3,000.00 respectively for shares of Sonnum Capital
Corporation. All investors had funds transferred from registered plans
to a trust company where the cash holdings were used to purchase shares
in the foregoing corporations. Reeves involvement was essentially being
a conduit who referred the investors to the individual who promoted the
investments and Reeves assisted them in completing paperwork to facilitate
the purchase of shares in the foregoing corporations.
SENTENCE
Reeves was sentenced on January 19, 2006 before Judge Collerman. A fine of $2,324.23 per count for a total fine of $9,296.92 was imposed with costs and surcharge being waived. The fine included disgorgement of commissions made by Reeves in relation to the charges. Reeves was ordered to pay the fine at the rate of $100.00 per month commencing March, 2006. At the time of sentencing, Reeves was attending school, living on a fixed income and supporting dependants.
The Manitoba Securities Commission
April 28, 2006