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Robert David Peers sentenced in Alberta over securities fraud

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Staff writer ▼ | June 28, 2016
The Alberta Securities Commission (ASC) said that Robert David Peers has been sentenced to a six-month conditional sentence after being convicted for a fraud on investors under the Securities Act (Alberta).
Canada   Peers to pay restitution of $25,000 and stay home
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.

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 Peers, pled guilty to 11 counts of breaching Alberta’s securities 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.