Possible Cease Trade Order Violations Ongoing

[sandi66]

Possible Cease Trade Order Violations Ongoing
Monday, 06 December 2010

The Saskatchewan Financial Services Commission is concerned that Allan Moen of Edmonton may be operating in violation of a temporary cease trade order issued in November 2009.

West African Industries Limited is supposedly involved in mining and is based in Sierra Leone, Africa and has ties to Las Vegas, Nevada.

A Temporary Cease Trade Order was issued back in November of 2009, against West African, Moen and Louis Supera and was later extended to March 15th of next year.

According to the Financial Services Commission Enforcement Branch Moen and Supera are still approaching investors in several locations in Saskatchewan, including areas around Battlefords, Turtleford, Saskatoon, Prince Albert, Melfort, Tisdale, Porcupine Plain and Preeceville.

Anyone who is contacted is asked to call the Commission.

www.saskatoonhomepage.ca/index.php?option=com_content&task=view&id=29134&Itemid=421

[sandi66]

INVESTOR ALERT ISSUED REGARDING WEST AFRICAN INDUSTRIES, ALLAN MOEN AND LOUIS SUPERA
by: Government of Saskatchewan | Dec 6th, 2010


The Saskatchewan Financial Services Commission (SFSC) is concerned that Allan Moen (Moen) of Edmonton, Alberta may be operating in violation of a temporary order issued in November 2009.

In late 2009, SFSC received information that Moen and the company, West African Industries Ltd. (West African), were selling shares to Saskatchewan residents. West African supposedly is involved in mining and is based in Sierra Leone, Africa. The company also has ties to Las Vegas, Nevada. The Director of Securities Division SFSC issued a Temporary Cease Trade Order on November 17, 2009, against West African, Moen and Louis Supera (Supera). The order has been extended to March 15, 2011. The order has prohibited the company and individuals from trading and advising in securities and exchange contracts, and removed their right to use any exemptions under The Securities Act, 1988. Neither the companies nor the individuals are registered to trade or give advice in securities in Saskatchewan. SFSC is continuing its investigation into this matter.

“Our ongoing investigation has determined that Moen, Supera, and the company have continued to deal with investors in Saskatchewan, Alberta and elsewhere, despite the order,” SFSC Enforcement Branch Head Ed Rodonets said. “We believe Moen and Supera are still approaching investors in several locations in Saskatchewan, including areas around Battlefords, Turtleford, Saskatoon, Prince Albert, Melfort, Tisdale, Porcupine Plain and Preeceville. Moen also appears to be offering opportunities in other, yet unnamed companies, while personally ordered to cease trading in Saskatchewan.”

This alert is to warn the public to be very cautious when dealing with Moen, Supera and West African about investment opportunities. If you have been contacted by any of them, you should immediately advise the SFSC Enforcement Branch at 306-787-5936.

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For more information, contact:

Ed Rodonets
SFSC
Regina
Phone: [phone]
Email: [e-mail]


www.canadaviews.ca/2010/12/06/investor-alert-issued-regarding-west-african-industries-allan-moen-and-louis-supera/