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Jan 14, 2022
CALGARY – January 14, 2022 – The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated Market Enforcement Team (IMET) announced today that Theodor Hennig of Calgary, Alberta has been charged with two offences under the Securities Act (Alberta), following an investigation by the Joint Serious Offences Team (JSOT).
Hennig has been charged with one count of trading and/or purchasing securities while prohibited from doing so by order of the ASC; and one count of acting as a director and/or officer of an issuer while prohibited from doing so by an order of the ASC, contrary to section 93.1 of the Securities Act.
In 2008, an ASC panel found that Hennig had breached the Securities Act and imposed sanctions upon him that included a permanent ban from acting as a director or officer of any issuer and a 20-year ban on trading in or purchasing securities including through the use of exemptions.
It is alleged that Hennig purchased securities using the accredited investor exemption in May 2018 in violation of the sanctions imposed on him. It is also alleged that Hennig acted as the CEO and director of an issuer, Octopus Technologies Inc. from October 3, 2019 to June 22, 2020, in violation of his sanctions.
Hennig’s first appearance in court is scheduled for March 15, 2022 at the Calgary Courts Centre, 601 5 Street S.W., Calgary.
JSOT is an enforcement partnership between the ASC, the IMET and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act 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 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.
For Media Inquiries:
Theresa Schroder Senior Advisor, Communications 403.297.4231
For Investor Inquiries:
ASC Public Inquiries Toll Free: 1-877-355-4488