News Releases
JSOT quasi-criminally charges John Labun with fraud and breach of Commission decision
Mar 29, 2019
CALGARY – March 29, 2019 – John Carlos Labun of Calgary, Alberta has been charged with four offences under the Securities Act (Alberta), following an investigation by the Joint Serious Offences Team (JSOT), as announced today by the Alberta RCMP and the Alberta Securities Commission (ASC).
Labun has been charged with one count of fraud contrary to section 93(b) and three counts of breach of a Commission decision contrary to section 93.1 of the Securities Act (Alberta). It is alleged that Labun perpetrated a fraud by raising and misdirecting over $900,000 of investor funds between December 2013 and February 2017 in Calgary, Alberta. At least 17 investors are believed to be impacted by Labun’s actions. It is also alleged that a portion of the funds raised in 2016 occurred while Labun was subject to a ban that had been imposed by an ASC panel in a previous proceeding.
Labun’s first appearance in court is scheduled for June 3, 2019, at the Calgary Courts Centre, 601 - 5 Street SW, Calgary, Alberta.
JSOT gratefully acknowledges the assistance of RCMP K Division, Calgary Police Service, Service Alberta, Strategic and Registry Services, and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in this matter.
JSOT is an enforcement partnership between the ASC, the RCMP Federal Policing’s Financial Integrity Program and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act (Alberta) and certain securities-related criminal offences under the Criminal Code. In particular, JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans.
The RCMP Federal Policing’s Financial Integrity Program contributes to the security of the Canadian economy and seeks to protect Canadians and their governments from financial crimes perpetrated by organized crime and others. The Financial Integrity Program is delivered in partnership with international and domestic government agencies, domestic stakeholders and the community at large.
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For further information please contact:
For RCMP Inquiries:
Cst. Michael (Mike) Hibbs
RCMP Media Relations Officer
Edmonton, Alberta
780-412-5531
For Investor Inquiries:
ASC Public Inquiries
Toll Free: 1-877-355-4488
inquiries@asc.ca