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

Just Posted

Summerland man rescued following ATV accident

Helicopters used to transport injured man to Kelowna for treatment

South Okanagan playgrounds now open

Once caution tape is removed, playgrounds are officially open for public use

Significant flooding not expected in Summerland

Okanagan Lake now slightly higher than full pool level

Moog and Friends Hospice hopes to raise $30,000 this month

Donations give hospice a chance to win an additional cash prize of $20,000

Detour in place for construction on Summerland road

Crews working on sewer along portion of Victoria Road North

VIDEO: A Vancouver Island black bear takes weekend nap in eagle tree

Videos captured by Terry Eissfeldt shows the bear arriving Saturday night and sleeping in on Sunday

High water levels on Shuswap Lake may close popular Canoe Beach

Rain forecast could flood entrance tunnel, city staff to evaluate

189 homes in Grand Forks area given evacuation orders

Homes are in the Nursery, Grand Forks Airport, Gilpin Rd., Johnson Flats and Granby Rd. areas

Mother bear and two cubs spotted in West Kelowna

Residents of Shannon Lake are urged to be on the look out for three bears in the area

Social justice advocate yells at Kelowna council, demands presence at Black Lives Matter rally

Heather Friesen has again taken to council chambers to make her opinion heard

Youth filmmakers tackle technology addiction, relationships, cyber-bullying

The Kelowna couple won a grant from Telus STORYHIVE

Vernon videographer captures thunderstorm

See the ‘best bits’ of Saturday’s storm

Dyer: I left my heart in the desert

Kristy Dyer is a columnist for Black Press Media who writes about the environment

Most Read