IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S-5, as amended
IN THE MATTER OF
ANDREW KEITH LECH
WHEREAS it appears to the Ontario Securities Commission that:
- Andrew Keith Lech has not been registered with the Commission since 1987.
- Enforcement Staff of the Commission are investigating Lech's current investment activities. Based upon the evidence collected to date, Lech appears to be collecting the funds of numerous individuals and representing that he will invest these funds in securities.
- Lech appears to be conducting some of these investment activities by using other individuals to collect investor funds on his behalf. Investors are provided with promissory notes in exchange for these investments, and the promissory notes are countersigned by Lech.
- Lech appears to be trading in securities without registration, advising in securities without registration, engaging in an illegal distribution of securities and making prohibited representations concerning the future value of securities.
- The Commission is of the opinion that it is in the public interest to make this order.
- The Commission is of the opinion that the length of time required to conclude a hearing in this matter could be prejudicial to the public interest.
AND WHEREAS by Commission Order made March 9, 2001, pursuant to section 3.5(3) of the Act, any one of David A. Brown, Howard I. Wetston or Paul M. Moore, acting alone, is authorized to make order under section 127 of the Act;
IT IS THEREFORE ORDERED that pursuant to clause 2 of section 127(1) of the Act that all trading in securities by Lech cease.
IT IS FURTHER ORDERED that pursuant to clause 3 of section 127(1) of the Act that the exemptions contained in Ontario securities law do not apply to Lech.
IT IS FURTHER ORDERED that pursuant to section 127(6) of the Act this order shall take effect immediately and shall expire on the fifteenth day after its making unless extended by the Commission.
DATED at Toronto this 1st day of May, 2003.
|"Howard I. Weston"|
|Howard I. Weston|