News Release
Shane Courtney Ward permanently banned from Alberta’s capital market
May 10, 2023
CALGARY – May 10, 2023 – The Alberta Securities Commission (ASC) has sanctioned Shane Courtney Ward for illegally distributing securities, making misrepresentations to investors and perpetrating a fraud.
An ASC panel previously determined that from February 2011 through April 2018, Ward distributed securities of Engineered Wealth (E-Wealth) without a prospectus and without an exemption from the prospectus filing requirement, contrary to the Securities Act (Alberta). The panel also found that Ward misled investors in regards to the security of their principal investment and expected rates of return, and that he misappropriated investor funds for personal use and/or other unauthorized uses. E-Wealth failed and nearly all investors lost their funds and received no returns on their investments.
In its sanctions decision, the ASC panel stated that “Ward presents an ongoing risk and cannot be trusted to comply with Alberta securities laws in the future” and that it was in the public interest and would achieve both specific and general deterrence for Ward to be banned from participating in the capital market permanently. The panel also ordered that Ward pay an administrative penalty of $100,000, disgorgement of $106,610.22, and investigation and hearing costs of $98,400.
A copy of the decision is available on the ASC website at asc.ca.
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.
For further information please contact:
For Media Inquiries:
For Investor Inquiries:
Theresa Schroder
Senior Advisor, Communications
media@asc.ca
ASC Public Inquiries
Toll Free: 1-877-355-4488
inquiries@asc.ca