A panel of the Financial and Consumer Services Tribunal (Tribunal) has banned Colby Cooper Inc. and John Douglas Lee Mason from the investment industry in New Brunswick for life.
The order bans the company and the individual from operating in New Brunswick capital markets. They cannot trade in securities, are prohibited from acting as officers or directors of any issuers and any exemptions to New Brunswick securities law do not apply to them permanently.
The order recognizes an order previously issued by the Ontario Securities Commission, which states that Colby Cooper Inc and Mason solicited people to invest in a fraudulent investment scheme to develop oil and gas properties in Texas and Alberta.
Hearing from New Brunswickers about suspicious financial and investment activity early is integral to combatting fraud. Please contact the Commission at 1 866 933-2222 for more information, to make a complaint or to express other related concerns.
Being an informed investor is the best defence against investment fraud. Learn how to protect yourself by taking advantage of the materials on the commission's website.
The Financial and Consumer Services Commission provides protection to consumers and investors from unfair, improper or fraudulent practices. It brings together regulatory authorities for securities, insurance, pensions, consumer affairs, co-operatives, credit unions, caisses populaires, and loan and trust companies. It is an independent Crown Corporation self-funded by the fees and assessments paid by the regulated sectors.
The Financial and Consumer Services Tribunal is an independent adjudicative body established July 1, 2013. The tribunal exercises powers imposed on it by the province's financial and consumer services legislation. Decisions and orders issued by the tribunal are a matter of public record and are available on its website.