OSC Lays Charges against Howard Rash in Ontario Court of Justice

TORONTO – The Ontario Securities Commission (OSC) said that on June 8, 2010, three charges were laid in the Ontario Court of Justice under Section 122 of the Securities Act against Howard Rash. Mr. Rash has been served with a summons to appear on June 22, 2010, at 10:30 a.m. at the Ontario Court of Justice at 50 Eagle Street in Newmarket, Ontario, in courtroom 205.

Mr. Rash is charged with one count of securities fraud and two counts of breaching cease trade orders made by the Commission. These orders were made on July 27, 2006, and July 23, 2007.

The allegations relate to the trading of securities by Mr. Rash in 2007 and 2008 through a company called Global Energy Group, Ltd.

Pursuant to Section 122 of the Securities Act, anyone found guilty of an offence and on conviction is liable to a fine of not more than $5 million or to imprisonment for a term of not more than five years less a day, or to both.

 

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For Media Inquiries:	Wendy Dey Director, Communications & Public Affairs 416-593-8120 Theresa Ebden Senior Communications Specialist 416-593-8307 Robert Merrick Senior Communications Specialist 416-593-2315
For Investor Inquiries:	OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)