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Woman fined $20,000 for withholding information from ASC

Mouth mechanic turned market manipulator BFI investors plead for firm’s sale Facebook LinkedIn Twitter Related news The Alberta Securities Commission (ASC) has ordered Meena Singh to pay an administrative penalty of $20,000 for attempting to conceal or withhold information from ASC staff during an investigation. The investigation involved restated interim financial statements of Genesis Land Development Corp. Singh has also been ordered to pay investigative and hearing costs of $7,000. In ordering the administrative penalty, the ASC panel ruled “we perceive a compelling need for general deterrence, which argues for meaningful sanction.” “It is expected that individuals being questioned by staff will be frank and honest in their responses,” the panel added Gobinder Singh (former president and CEO of Genesis), Frank Devcich (former CFO of Genesis) and Thomas Tang previously reached settlement agreements with the ASC regarding their conduct in this matter. Share this article and your comments with peers on social media IE Staff PwC alleges deleted emails, unusual transactions in Bridging Finance case Keywords EnforcementCompanies Alberta Securities Commission read more