IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED
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IN THE MATTER OF MARLON GARY HIBBERT, ASHANTI CORPORATE SERVICES INC., DOMINION INTERNATIONAL RESOURCE
INC., KABASH RESOURCE MANAGEMENT, POWER TO CREATE WEALTH
INC. AND POWER TO CREATE WEALTH INC. (PANAMA)
WHEREAS the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order on January 28, 2011 pursuant to sections 127(1) and (5) of the Securities Act, R.S.O., c. S.5, as amended (the “Act”) in respect of all of the Respondents (the “Cease Trade Order”);
AND WHEREAS on February 11, 2011, the Commission made an order extending the Cease Trade Order until July 28, 2011;
AND WHEREAS the hearing on the merits took place on December 5, 7 and 9, 2011 and January 11, 2012;
AND WHEREAS on April 4, 2012, the Panel issued its Reasons and Decision and found that the Respondents breached the Act by: trading in securities without being registered to do so; acting as advisors with respect to investing in, buying or selling securities without registration; engaging in activities which constituted a distribution in securities for which no preliminary prospectus or prospectus had been filed and for which no receipt has been issued by the Director; and further, that Marlon Gary Hibbert (“Hibbert”) had directly or indirectly engaged or participated in acts, practices or a course of conduct relating to securities that he knew or ought reasonably to have known would perpetrate a fraud on persons; and that Hibbert had misled Staff;
AND WHEREAS a sanctions hearing is presently scheduled for August 1, 2012;
AND WHEREAS Staff of the Commission (“Staff”) have advised that they intend to seek a disgorgement order at the sanctions hearing;
AND WHEREAS Hibbert and PCWP have requested, and Staff support, a partial variation of the Cease Trade Order to permit Hibbert and PCWP to transfer approximately $650,000.00 from a trading account held in the name of PCWP located in Panama to the Ontario Securities Commission by way of a bank draft or direct wire transfer to an account held by or in the name of the Commission, in order to remit the same to the Commission to partially satisfy any disgorgement order that may be made at the sanctions hearing;
AND WHEREAS the Commission considers it to be in the public interest to make this Order;
AND WHEREAS by Authorization Order made June 13, 2012, pursuant to subsection 3.5(3) of the Act, each of Howard I. Wetston, James E. A. Turner, Kevin J. Kelly, James D. Carnwath, Mary G. Condon, Margot C. Howard, Paulette L. Kennedy, Vern Krishna, Christopher Portner and Edward P. Kerwin, 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 144 of the Act.
IT IS HEREBY ORDERED that, pursuant to subsection 144(1) of the Act, the Cease Trade Order be varied to permit Hibbert and PCWP to trade in securities solely to transfer approximately $650,000.00 from a trading account held in the name of PCWP located in Panama to the Ontario Securities Commission by way of a bank draft or direct wire transfer to an account held by or in the name of the Commission. For greater certainty, the funds are to be transferred directly to the Commission without any intervention by Hibbert other than the provision by Hibbert of instructions to PCWP and/or the financial institution giving effect to the transfer; and
IT IS FURTHER ORDERED that all other terms contained in the Cease Trade Order remain in effect.
DATED at Toronto this 18thday of July, 2012.