CALGARY,
AB, Aug.1, 2024
/CNW/ -The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated
Market Enforcement Team (IMET) announce that Cheryl-Lynne Braun (a.k.a. Cheryl-Lynn or
Cheryl-Lynne Dodd), of Edmonton, has been sentenced to 12 months in
jail. Braun pleaded guilty to three counts of fraud
over $5,000, contrary to section
380(1)(a) of the Criminal Code, following an investigation by the
Joint Serious Offences Team (JSOT).
In 2016 and 2017, Braun solicited $268,000 from nine individuals for what she
described as real estate related investments. These individuals
were led to believe they would receive high returns. Braun instead
used investor funds for unauthorized purposes, including
gambling, personal expenses and paying previous
investors.
Following a previous criminal conviction for fraud
in April 2007, the ASC issued an
order in September 2007 permanently
prohibiting Braun from trading in any securities and permanently
prohibiting her from using any exemptions available under
Alberta securities
laws. These prohibitions remain in effect.
JSOT gratefully acknowledges the assistance of the Financial
Transactions and Reports Analysis Centre of Canada (FINTRAC) and the RCMP Strathcona
detachment in this matter.
JSOT is an enforcement partnership between the ASC and IMET.
JSOT investigates and prosecutes quasi-criminal cases under
the Securities Act (Alberta) 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 (Alberta) 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.
The IMET is a specialized unit under the RCMP Federal Policing
program that detects, investigates, and deters market
fraud. The IMET unit works closely with the ASC to
protect investors and further enhance confidence in Canada's capital markets.
SOURCE Alberta Securities Commission