FCAA Issues Allegations Against SHEC Energy Corporation
The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) has issued a statement of allegations as a result of an investigation into the activities of Saskatchewan-based SHEC Energy Corporation, its founder, James “Tom” Beck, and a former employee, Terrence Stott.
The company and two individuals face allegations for various securities law breaches related to trading securities in Saskatchewan, spanning a period of six years.
It is alleged that more than $1.5 million was raised from Saskatchewan residents while failing to comply with the capital-raising requirements set out in The Securities Act. SHEC, Tom Beck and Terrence Stott have been given notice of first appearance for March 1, 2016.
At that time, a date for a hearing into the matters will be set.
For more information about the allegations visit www.fcaa.gov.sk.ca/SHECEnergyCorporation.