Robert David Peers has been sentenced to a six-month conditional sentence after being convicted of one count of engaging or participating in a course of conduct that perpetrated a fraud on investors under the Securities Act (Alberta). Alberta Provincial Court Judge Frederick A. Day also ordered Peers to pay restitution of $25,000 to two investors, cease trading in securities and cease acting as a director or officer of any issuer for 10 years, with limited exemptions, according to a report from Calgary.
As part of the conditional sentence, during the first two months Peers must remain in his home (with limited exceptions) 24 hours a day, seven days a week, and for the next two months he is bound by a curfew and other conditions.
In February 2016, Robert Peers pled guilty to one count of fraud under the Securities Act (Alberta). At that time, his father Edmonton-based businessman Jeremy (Jay) Peers, pled guilty to 11 counts of breaching Alberta’ssecurities laws. Jay Peers’ court proceedings in this matter are ongoing.
The charges against the Peers are connected to trading in Federal Mortgage Corporation and Peers Foster Kristiansen securities from 2006 to 2010.
A copy of a transcript of the oral decision can be obtained through the Provincial Court of Alberta in Edmonton.
The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets. – CNW