John Carlos Labun of Calgary, Alberta has been charged with four offences under the Securities Act (Alberta), following an investigation by the Joint Serious Offences Team (JSOT), announced the Alberta Securities Commission (ASC) on March 29.
Labun has been charged with one count of fraud and three counts of breach of a Commission decision. It is alleged that Labun perpetrated a fraud by raising and misdirecting over $900,000 of investor funds between December 2013 and February 2017 in Calgary, Alberta. At least 17 investors are believed to be impacted. It is also alleged that a portion of the funds raised in 2016 occurred while Labun was subject to a ban that had been imposed by an ASC panel in a previous proceeding, says the regulator.
Labun's first appearance in court is scheduled for June 3, 2019
JSOT is an enforcement partnership between the ASC, the RCMP Federal Policing's Financial Integrity Program and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act (Alberta) and certain securities-related criminal offences under the Criminal Code.