Released on August 26, 1999
The Saskatchewan Securities Commission has extended a Cease Trading Order withrespect to an Internet based illegal distribution of securities originating in
Saskatoon. This order is in effect to November 30, 1999.
The order is directed at:
Robert J. Sziraki, of Saskatoon;
Maxhart Group of Companies, L. P.;
Maxhart Investment Corporation;
Maxhart Capital Management Limited;
Maxhart First Financial Corporation;
Maxhart Auto Group Limited;
Maxhart Equities Group Limited;
Maxhart Capital Corporation;
Rodeo Drives Holding Corp.;
Dynamic Technologies Inc.;
Maxhart Equities Inc.; and
RDH Equities Inc.
The order was issued after the Securities Commission became aware of a web site
originating in Saskatoon which was offering securities which did not meet the
requirements of The Securities Act, 1988. The web site represented the Maxhart
Group of Companies as being active in merchant banking, venture capital
management, securities brokerage, real estate investment, property development
and automotive brokerage.
Vic Pankratz, Deputy Director of Enforcement for the Saskatchewan Securities
Commission says, "The public should be careful of any investment scheme
promoted on the Internet and check it out to ensure that it is legitimate and
authorized to sell securities. When in doubt, seek advice from your broker,
accountant, bank manager, lawyer or the Securities Commission before responding
to such solicitations".
While the web site has now been shut down, Pankratz says that if you have
become involved in this investment scheme please contact the Saskatchewan
Securities Commission at (306)787-5645.
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For further information, contact:
Vic Pankratz, Deputy Director
Enforcement
Saskatchewan Securities Commission
Regina, Phone: 306-787-5645