Enforcement Summary
Re: Walter G. Chomichuk
Charges under The Securities Act
Facts
On December 1, 2000, Walter G. Chomichuk plead guilty to two counts under The Securities Act being:
Count 1: Between January 1st, 1997 and April 30th, 1997 acting as a salesman of or on behalf of Worldwide Golf Resources Inc. in connection with trading in securities of Worldwide Golf Resources contrary to section 6(3) of The Securities Act; and
Count 2: Between January 1st, 1997 and April 30th, 1997 trading in securities of Worldwide Golf Resources Inc. in the course of a primary distribution to the public before receipt for both a preliminary prospectus and prospectus had been obtained from the Director of the Manitoba Securities Commission contrary to section 37(1) of the Act.
Prior to entering plea an agreement had been reached between staff and counsel for Mr. Chomichuk and a joint recommendation on sentence of fines in the amount of $10,000.00 divided $5,000.00 on the first count and $5,000.00 on the second count be ordered. Mr. Chomichuk was given six (6) months to pay the fines by the Court.