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Gregory Frederick Hilderman and Jonathan Financial admit to breaching securities laws

News Release

Gregory Frederick Hilderman and Jonathan Financial admit to breaching securities laws 

 

CALGARY – The Alberta Securities Commission (ASC) has concluded a Settlement Agreement with Gregory Frederick Hilderman and Jonathan Financial Inc. in which they admit to breaching Alberta securities laws by making misleading or untrue statements to investors.

 

Hilderman and Jonathan Financial Inc. admit stating to investors that they would raise only $2 million in total sale of debentures, when in fact materially more was raised.  They also admit that they represented to investors that a security interest would be perfected in relation to the debentures when in fact no filings occurred.

 

Generally, perfection of this type of security interest occurs through registering a debt with a registry office.

 

Hilderman is the president and sole director and shareholder of Jonathan Financial Inc.  In addition to the admitted misleading statements, Hilderman and Jonathan Financial Inc. admit that they failed to file required reports with the ASC providing details as to sales of the securities in question.

 

As part of the Settlement Agreement, Hilderman and Jonathan Financial paid the ASC $45,000 and agreed to cease their sales of securities to investors for three years.

 

A copy of the Settlement Agreement and Undertaking can be found on the ASC website at www.albertasecurities.com.

 

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.

 

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