Ontario Court of Justice Convicts Arnold Guettler, Neo-Form Corporation and Neo-Form North America Corp. of Securities Offences
Pour diffusion immédiate Before the Court OSC
Toronto - On February 5, 2001, the Honourable Mr. Justice Babe of the Ontario Court of Justice found Arnold Guettler, Neo-Form Corporation and Neo-Form North America Corp. guilty of: (1) trading in securities, namely shares and promissory notes issued by the Defendants, without being registered to trade in such securities contrary to section 25(1) of the Securities Act; (2) trading in such securities without having filed a prospectus contrary to section 53(1) of the Securities Act; and (3) making representations that the shares of Neo-Form Corporation and Neo-Form North America Corp. would be listed on a stock exchange with the intention of effecting trades in such securities contrary to section 38(3) of the Securities Act. The Defendants were found not guilty of giving undertakings as to the future value of the shares of Neo-Form Corporation and Neo-Form North America Corp. to potential investors with the intention of effecting trades in such securities contrary to section 38(2) of the Securities Act.
Between October 15, 1994 and January 10, 1997, the Defendants raised in excess of $2 million dollars from the sale of shares and promissory notes to approximately 140 investors.
The sentencing hearing for the Defendants before the Honourable Mr. Justice Babe is scheduled for 10:00 a.m. on April 17, 2001 at Old City Hall, 60 Queen Street West, Toronto.
Reference:
Rowena McDougall
Senior Communications Officer
(416) 593-8117
Michael Watson
Director of Enforcement
(416) 593-8156