To: Daniel Miller who wrote (992 ) 4/13/1999 11:58:00 PM From: Jeffrey S. Mitchell Respond to of 4128
Daniel, buddy, good work! I missed Mandacorp! You wrote:During the 1980's Gerald Sklar was working at Mandacorp. What happened was, is that the company was making a deal with another company in which they would get $100k. Well, the COMPANY (Sklar did not put out the news release) put out a news release that they were going to get 100k from the company. The deal fell through and that made it a false press release. The blame landed on him and he got a 2yr suspension in 1988. He fought it which costed him $60k. As you know you can't beat them so he lost. This all happened 12 years ago and for something he had very little to do with. Dan So, that was 1988 was it? Now, let's see what happened a year later that Sklar conveniently neglected to tell you:Intercontinental Ventures Ltd - Securities commission releases Sklar decision Intercontinental Ventures Ltd INQ Shares issued 1,674,750 1989-01-17 close $0.4 Tuesday Sep 19 1989 Max Minerals Inc (MXS) Mr D. M. Thompson of the BC securities commission reports The BC securities commission has released its decision in the matter of Gerald Emile Sklar. Sklar was a director and officer of Intercontinental and Max Minerals. In November 1988, the two companies issued news releases and filed documents at the VSE stating that private placements had been negotiated with a European bank. (See Stockwatch dated November 23 1988 for Intercontinental notice, November 28 1988 for Max Minerals.) The bank subsequently advised the exchange that it had not agreed to the financings. Following a hearing in May 1989, the commission found the news releases to be false and misleading . Since Sklar had directed their release without taking adequate precautions to ensure they were true, the commission determined that he did not exercise the care, diligence and skill of a reasonably prudent person. Later, after he knew the information was false, he failed to act honestly. The false and misleading disclosure about the private placements was a result of Sklar's failure to fulfil his duties as a director and officer. The commission found Sklar's behaviour to be prejudicial to the public interest and ordered the removal of his trading exemptions for three years. Sklar is also prohibited from acting as a director or officer of a public company for three years and will be required to pay costs of the hearing. wwwf.canada-stockwatch.com Get the feeling you're beeing duped? - Jeff P.S. Wait, that was 10 years ago, right? Don't worry, there's much much more!