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

Poll: Should Penticton allow drinks on the beach?

Legally drinking in some Penticton parks and beaches could become a reality as early as June 5

Penticton woman to ‘load up the cart’ with toys for local hospital

Pascale-Ann Demers launched a GoFundMe to upgrade the toy supply at Penticton Regional Hospital

Cannery Brewing’s patio expansion plans delayed by COVID-19

Once open, the new patio will look quite different than originally planned

Playgrounds to reopen across the Okanagan on June 1

After nearly two months closure, playgrounds are set to reopen

Long-time South Okanagan principal retires, another takes the helm

Jeff Redden will start as principal of Naramata Elementary School in August

VIDEO: Humpback whales put on quite a show

The ‘playful’ pod lingered by a Campbell River tour operator’s boat for quite some time

Large cruise ships barred from Canadian waters until end of October: Garneau

Last year 140 cruise ships brought more than two million visitors to Canadian ports

Flood watch for Salmon River upgraded as high temperatures, rain forecast

Shuswap Emergency Program warns residents to prepare now for possible extreme flooding

Man who bound, murdered Vancouver Island teen still a risk to public: parole board

Kimberly Proctor’s killer is still ‘mismanaging emotions,’ has had ‘temper tantrums’

RCMP request public’s help in locating missing Salmon Arm man

Ken Derkach is a familiar face to many, one of the city’s residents who is without a home

Booze on Kelowna beaches? Mayor says ‘not at the moment’

Mayor Colin Basran says alcohol in public spaces is not on council’s radar right now — but that could change

Getting hitched at historic B.C. gold rush town still on table during COVID-19 pandemic

Micro-weddings, online visits, offered at Barkerville Historic Town and Park

VIDEO: Police look for suspect seen tripping elderly woman in Burnaby

The elderly woman was walking near the SkyTrain station when she was randomly tripped

Drunk man on a dirt bike and prohibited drivers without insurance keep Shuswap RCMP busy

Other calls resulted in excessive speed tickets and the arrests of two prohibited drivers

Most Read