Temporary Order: In the Matter of Rodney International et al.

Order
 

 

 

 

IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED

AND

IN THE MATTER OF RODNEY INTERNATIONAL,
CHOEUN CHHEAN (ALSO KNOWN AS PAULETTE C. CHHEAN)
AND
MICHAEL A. GITTENS (ALSO KNOWN AS ALEXANDER M. GITTENS)

TEMPORARY ORDER
Section 127(1) & 127(5)

 

 


WHEREAS it appears to the Ontario Securities Commission (the “Commission”) that:

 

 

 

  1. Rodney International (“Rodney”) is a Sole Proprietorship registered under the Business Names Act;
  2. Choeun Chhean (also known as Paulette C. Chhean ) (“Chhean”) is the Sole Proprietor of Rodney;
  3. Michael A. Gittens (also known as Alexander M. Gittens) (“Gittens”), a resident of Windsor, Ontario, is the operating mind of Rodney;
  4. Gittens, through Rodney, has been soliciting funds in Maryland, Pennsylvania and Texas in exchange for promissory notes that represent interests in a real estate development project in the Greater Toronto Area;
  5. There is no record of Rodney having been registered under the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”), nor is there a record of any filings pursuant to Rule 45-106 in reliance on a prospectus exemption under the Act;
  6. No exemptions from the registration and prospectus requirements under the Act apply to Rodney or securities issued by Rodney;
  7. Staff of the Commission are conducting an investigation into the activities of Rodney and its agents or principals who may be conducting a distribution of securities without complying with s. 53 of the Act and without entitlement to an exemption from the Act's prospectus requirements;
  8. Agents or principals of Rodney may be trading in securities without the necessary registration under s. 25 of the Act;

AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in s. 127(5) of the Act;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

AND WHEREAS by Authorization Order made April 1, 2008, pursuant to subsection 3.5(3) of the Act, the Commission authorized each of W. David Wilson, James E. A. Turner, Lawrence E. Ritchie, Paul K. Bates and David L. Knight, acting alone, to exercise the powers of the Commission to make Orders under section 127 of the Act;

IT IS ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities of Rodney shall cease;

IT IS FURTHER ORDERED pursuant to clause 2 of subsection 127(1) of the Act that all trading by Rodney, Chhean and Gittens shall cease;

IT IS FURTHER ORDERED that pursuant to clause 3 of subsection 127(1) of the Act that the exemptions contained in Ontario securities law do not apply to Rodney, Chhean or Gittens;

IT IS FURTHER ORDERED that pursuant to subsection 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by order of the Commission.

      Dated at Toronto this 4th day of June, 2008

 

 

 

 
“David Wilson”
David Wilson