By The Book: ASC issues five-year ban

By Staff | February 11, 2008 | Last updated on February 11, 2008
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(February 11, 2008) The Alberta Securities Commission has banned an Edmonton man from the market for five years for illegal distribution of securities.

Lambert Lavallee was the founder and significant shareholder of KCP Innovative Services Inc. The ASC found that he raised $1.5 million from at least 107 investors without being properly registered.

“Unless sanctioned, Lavallee would pose a continuing risk to Alberta investors and the capital market,” the ASC said in its decision. On top of the ban, the ASC has ordered Lavallee to pay an administrative penalty of $20,000 and $10,000 in costs.

(02/11/08) staff


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