News Release

JSOT criminally charges William Jordan McBean with fraud and theft

May 31, 2021

CALGARY – May 31, 2021 – The Alberta Securities Commission (ASC) and the Alberta RCMP Federal Policing Integrated Market Enforcement Team (IMET) announced today that William Jordan McBean of Calgary, Alberta has been charged with four offences under the Criminal Code, following an investigation by the Joint Serious Offences Team (JSOT).

McBean has been criminally charged with two counts of fraud over $5,000 contrary to section 380(1)(a) and two counts of theft over $5,000 contrary to section 334(a). It is alleged that McBean fraudulently obtained approximately $3.8 million in relation to purported financing fees.

McBean’s first appearance in court is scheduled for June 24, 2021 in Calgary Provincial Court at 601 5 Street SW, Calgary.

JSOT is an enforcement partnership between the ASC, the IMET and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act and certain securities-related criminal offences under the Criminal Code. In particular, JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans. The primary objective is to protect investors and further enhance confidence in the Alberta capital market through collaborative investigations and prosecutions of serious violations of the law using the provisions of the Securities Act (Alberta) or the Criminal Code.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

The IMET is a specialized unit under the RCMP Federal Policing program that detects, investigates, and deters market fraud. The IMET unit works closely with the ASC to protect investors and further enhance confidence in Canada’s capital markets.

- 30 -

For further information please contact:

For Media Inquiries:

Theresa Schroder
Senior Advisor, Communications

For Investor Inquiries:

ASC Public Inquiries
Toll Free: 1-877-355-4488