BC Securities Commission issues temporary trading ban to former Shuswap motorcycle rally promoter

Ray Sasseville given 15-day trading suspension along with four companies

The man behind a motorcycle rally and music festival in 2011 in Salmon Arm and 2012 in Spallumcheen near Vernon has again caught the attention of the British Columbia Securities Commission.

The BCSC has issued temporary orders against four companies and two individuals as it investigates possible violations of the registration and prospectus requirements of the Securities Act and a possible breach of a prior BCSC order.

One of those individuals is Raymond Michael Roger Sasseville – or Ray Sasseville. Sasseville is also known as Michael Ray Carrier. Sasseville headed the 2011 Sturgis North motorcycle rally and music festival held on Neskonlith Band land near Salmon Arm. It moved to Spallumcheen’s Motoplex Speedway in 2012.

The BCSC imposed a 15-day prohibition on Sasseville which includes: trading in or purchasing securities (with limited exceptions); becoming or acting as a registrant or promoter; advising or acting in a management or consultative capacity in connection with activities in the securities market; engaging in investor relations activities; and relying on any of the exemptions under the Securities Act.

The temporary order also includes a 15-day ban on the trading of securities of Talking Stick Media Incorporated, YourStick.com Media Inc., Rockin Bike Motorcycle Manufacturing Company Incorporated and Sturgis Canada Festival Incorporated.

Read more: Commission censures Sasseville

Read more: Debts still plague Sturgis

Read more: Sturgis moves to Merritt

Jonathon S. Reidar, along with the four companies, is also named under a 15-day prohibition.

In a May 14 news release, the commission stated that in 2015, it found Sasseville engaged in an illegal distribution and unregistered trading, and banned him from trading in or purchasing securities with limited exceptions, and from becoming or acting as a director or officer of any issuer except in limited circumstances, for at least five years. The orders remain in effect.

In 2003, Sasseville also faced allegations of illegal distribution, but involving a different issuer. At that time he admitted he illegally distributed securities valued at approximately $755,000 to 75 investors, stated a securities commission document. He was ordered to pay $10,000 and prohibited from acting as a director and officer, or from engaging in investor relations activities on behalf of any issuer for a minimum of three years.

While the two motorcycle and music events near Salmon Arm and Vernon in 2011 and 2012 received a mix of good and poor reviews from participants, both left behind debts to local businesses.



newsroom@saobserver.net

Like us on Facebook and follow us on Twitter

Salmon ArmStocks

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Public shows support for alcohol in outdoor spaces: City of Penticton

City council will vote on whether to continue allowing public consumption, on Tuesday, July 7

Princeton RCMP arrest suspects in violent Salmon Arm home invasion

Two men who allegedly staged a violent home invasion in Salmon Arm… Continue reading

Interior Health will not expand Police and Crisis Team

Southeast Division Chief Superintendent Brad Haugli asked IH to expand the program

Haze over Okanagan and Shuswap skies may have drifted from Siberia

Few active wildifres so far this summer in B.C.

Community Foundation of South Okanagan Similkameen funding applications accepted until July 24

Emergency Community Support Funding available to organizations within the region

13 new B.C. COVID-19 cases, Langley Lodge outbreak ends

Health care outbreaks down to four, 162 cases active

Okanagan Realtors donate big to North Westside fire department

Two Kelowna-area Realtors made a generous donation to the North Westside Fire… Continue reading

SilverStar security recovers stolen bike

Reminders to residents to keep bicycles locked up, eyes open for suspicious activity

‘Justice for Mona’ protests planned in Kelowna, Lower Mainland

Security camera footage shows Mona Wang being dragged, stepped on during RCMP wellness check

Orphaned Okanagan beavers admitted to rehab centre

The two beavers are in the care of the Fawcett Family Wildlife Health Centre

Intent of killing at centre of Surrey man’s Okanagan murder trial

B.C. Supreme Court Justice Allison Beames is anticipated to return with her decision in August

Kelowna neighbourhood pond dries up again

The RDCO filled up the pond on Hall Road but it’s drying up again

Penticton RCMP seek help locating missing woman

25-year-old Iesha Blomquist was reported missing to Penticton RCMP on June 30

Most Read