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May 17, 2022
CALGARY – May 17, 2022 – The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated Market Enforcement Team (IMET) announce that Theodor Hennig of Calgary, Alberta entered guilty pleas to two counts of failing to comply with an ASC decision, contrary to section 93.1 of the Securities Act (Alberta). Hennig was sentenced on May 12, 2022 by Judge W.J. Cummings at the Provincial Court of Alberta in Calgary.
Hennig was sentenced to a two-month conditional sentence. In addition, he is permanently prohibited from acting as a director or officer of an issuer, and prohibited from trading or purchasing securities or exchange contracts until December 19, 2028.
Hennig was previously prohibited from trading in securities and acting as a director or officer of an issuer by a decision issued by the ASC on December 18, 2008. He failed to comply with the ASC’s decision by acting as an intermediary for the purchase of securities on behalf of two other individuals on May 4, 2018. Hennig also failed to comply with the ASC’s decision by acting as the CEO and a director of Octopus Technologies Inc. from October 3, 2019 to June 22, 2020. Charges were laid following an investigation by the Joint Serious Offences Team (JSOT).
JSOT gratefully acknowledges the assistance of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in this matter.
JSOT is an enforcement partnership between the ASC, IMET and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act and certain securities-related criminal offences under the Criminal Code. In particular, JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans. The primary objective is to protect investors and further enhance confidence in the Alberta capital market through collaborative investigations and prosecutions of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
IMET is a specialized unit under the Alberta RCMP Federal Policing program that detects, investigates, and deters market fraud. IMET works closely with the ASC to protect investors and further enhance confidence in Canada’s capital markets.
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