CALGARY, Nov. 21, 2012 /CNW/ - The Alberta Securities Commission (ASC) has concluded a settlement with Sundre Development Ltd., Aspen Springs Capital Group Inc. and their principal William Joseph Sander, a.k.a. "Bill Sander".
Under the Settlement Agreement, Sander agreed to pay the ASC $40,000 in settlement plus $11,000 in costs and undertook to cease acting as a director or officer of any issuer for eight years. Sander also undertook to cease trading in or purchasing securities and to not use any exemptions contained in Alberta securities laws for eight years. Sundre Development and Aspen Springs Capital Group undertook to cease trading in or purchasing securities and to not use any Alberta securities laws exemptions for a period of one year.
In the Settlement Agreement, Sander, Sundre Development and Aspen Springs Capital Group admitted to an illegal distribution and making misrepresentations to Alberta investors, and Sundre Development admitted to filing misleading documents with the ASC.