Proceedings

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

-AND-

IN THE MATTER OF SHANE SUMAN
AND MONIE RAHMAN

ORDER
(Sections 127 and 127.1 of the Securities Act)



    WHEREAS on July 24, 2007, a Statement of Allegations and a Notice of Hearing were issued pursuant to sections 127 and 127.1 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) in the matter of Shane Suman (“Suman”) and Monie Rahman (“Rahman”) (collectively, the “Respondents”);

    AND WHEREAS the Commission conducted a hearing on the merits in this matter; and issued its Reasons and Decision on the merits on March 19, 2012 (the “Merits Decision”);

    AND WHEREAS the Commission concluded in the Merits Decision that Suman contravened Ontario securities law and that Suman and Rahman acted contrary to the public interest;

    AND WHEREAS the Commission conducted a hearing with respect to the sanctions and costs to be imposed in this matter on July 16, 2012;

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

    IT IS HEREBY ORDERED THAT:

(a) pursuant to clause 2 of subsection 127(1) of the Act, Suman shall cease trading in any securities permanently;

(b) pursuant to clause 2 of subsection 127(1) of the Act, Rahman shall cease trading in any securities for a period of five years from the date of this order, after which she may trade in securities only if the costs awarded against her jointly and severally with Suman have been paid in full to the Commission;

(c) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Suman is prohibited permanently;

(d) pursuant to clause 2.1 of subsection 127(1) of the Act, the acquisition of any securities by Rahman is prohibited for a period of five years from the date of this order, after which she may acquire securities only if the costs awarded against her jointly and severally with Suman have been paid in full to the Commission;

(e) pursuant to clause 8 of subsection 127(1) of the Act, each of the Respondents shall be prohibited permanently from becoming or acting as a director or officer of any reporting issuer;

(f) pursuant to clause 9 of subsection 127(1) of the Act, Suman shall pay an administrative penalty of $250,000 to the Commission, such amount to be allocated to or for the benefit of third parties;

(g) pursuant to clause 10 of subsection 127(1) of the Act, Suman shall disgorge $954,938.07 to the Commission, such amount to be allocated to or for the benefit of third parties; and

(h) pursuant to section 127.1 of the Act, Suman and Rahman shall jointly and severally pay costs of $250,000 to the Commission.

Dated at Toronto, Ontario this 22nd day of August, 2012.

 

" James E. A. Turner "
James E. A. Turner  
  " Paulette L. Kennedy "
Paulette L. Kennedy