Temporary Order: In the Matter of Nest Acquisitions and Mergers and Caroline Frayssignes

Order
Download PDF

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

and

IN THE MATTER OF IMG INTERNATIONAL INC.,
INVESTORS MARKETING GROUP INTERNATIONAL INC.
AND MICHAEL SMITH

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

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

  1. Nest Acquisitions and Mergers (“Nest”) appears to be a company operating out of the Ontario;
  2. Nest appears to be involved in the trading of securities in Ontario;
  3. Nest is not registered with the Commission in any capacity;
  4. Nest has a bank account at the Royal Bank of Canada (the “Nest RBC Account”). Caroline Frayssignes (“Frayssignes”) set up the Nest RBC Account and had signing authority on the account;
  5. Funds from the Nest RBC Account were transferred to a brokerage account held by Frayssignes with Wellington West Capital Inc.(“WWCI”) in Oakville, Ontario, (the “Frayssignes WWCI Account”); and,
  6. Between February 23, 2009 and April 7, 2009, the Frayssignes WWCI Account may have been involved in the manipulation of the share price of a security listed on the OTC Pink Sheets in the United States.

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 Securities Act, R.S.O. 1990, c. S. 5, as amended (the “Act”);

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

AND WHEREAS by Commission order made April 1, 2008, pursuant to section 3.5(3) of the Act, any one of David Wilson, James E.A. Turner, Lawrence E. Ritchie, Paul K. Bates, and David L. Knight, acting alone is authorized to exercise the powers of the Commission under the Act, subject to subsection 3.5(4) of the Act, 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 by Nest Acquisitions and Mergers and Caroline Frayssignes shall cease; and,

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 8th day of April, 2009.

 

" David Wilson "