ENFORCEMENT SUMMARY
In the Matter of The Securities Act
and in the Matter of Robert Wayne BENNETT ("BENNETT”) and Celebration of Your Financial Success Online Inc. ("CELEBRATION”)
Charges:
Following a trial before The Honourable Judge Corrin in the Provincial Court of Manitoba, on September 14, 2005, Bennett and Celebration were each convicted of eight (8) counts under The Securities Act of Manitoba ("Act”): four (4) each of trading without registration and four (4) each of trading without prospectus. Subsequently, BENNETT failed to return to court for sentencing and warrants for arrest were issued.
Summary:
BENNETT was the incorporator, sole director, and President and CEO of CELEBRATION. Presentations were done by BENNETT whereby persons were solicited to buy shares in CELEBRATION. As described, the investment scheme involved an opportunity to make a million dollars in a relatively short time frame (1 or 3 years), the benefit of getting in on the ground floor of a company with future plans to go public, a vacation ownership plan with drastically discounted vacation packages for being a shareholder, and an alleged agreement with another company whereby a resort in the Dominican Republic would be built. The investment scheme also included a bonus system whereby free shares could be received depending upon the amount of money invested and a referral program with credits given to investors for referring others to invest in CELEBRATION. Over $25,000 was collected by BENNETT and CELEBRATION. BENNETT had previously been registered as a salesman under the Act.
Sentence:
On May 25, 2007, Judge Corrin sentenced BENNETT in absentia to six (6) months incarceration (concurrent all counts), followed by supervised probation for twelve (12) months, and surcharges of $800. A fine of $5,000 was imposed upon CELEBRATION.
The Manitoba Securities Commission
August 7, 2007.