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

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

RCMP searched for a suspect in Polson Park following an assault on a woman Thursday, Nov. 26. (Morning Star file photo)
Public warned after woman assaulted in Vernon’s Polson Park

RCMP on the hunt for suspect, described as in his 30’s

The Okanagan Quality Life Society which usually gives tours of Okanagan Lake to seniors and shut-ins on its boat Heaven Can Wait has created a virtual tour video in the wake of the COVID-19 pandemic which shut down the tours in 2020. (Morning Star - file photo)
Vernon society launches virtual boat tour

Okanagan Quality Life Society normally gives tours on Okanagan Lake on its boat Heaven Can Wait

The Wilson’s Landing Fire Department holds its Christmas Santa Run Food Drive from 5 to 9 p.m. Monday, Dec. 7. (Photo submitted)
Westside fire department holding food drive

Annual Wilson’s Landing Fire Department Christmas Santa Run Food Drive goes Monday, Dec. 7

COVID-19. (Image courtesy CDC)
Interior Health reports 65 new cases of COVID-19

Province-wide, there are 887 new cases of the virus

City of Armstrong Public Works Yard. (Google Maps)
Armstrong city staff threatened in snow removal complaint

Community services manager says ‘veiled threat’ is believed to have been flippant, but is being taken seriously

B.C. Health Minister Adrian Dix and provincial health officer Dr. Bonnie Henry update the COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. sets another COVID-19 record with 887 new cases

Another 13 deaths, ties the highest three days ago

Join Black Press Media and Do Some Good
Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Arthur Topham has been sentenced to one month of house arrest and three years of probation after breaching the terms of his probation. Topham was convicted of promoting hate against Jewish people in 2015. (Photo submitted)
Quesnel man convicted for anti-Semitic website sentenced to house arrest for probation breach

Arthur Topham was convicted of breaching probation following his 2017 sentence for promoting hatred

Langley School District's board office. (Langley Advance Times files)
‘Sick Out’ aims to pressure B.C. schools over masks, class sizes

Parents from Langley and Surrey are worried about COVID safety in classrooms

The baby boy born to Gillian and Dave McIntosh of Abbotsford was released from hospital on Wednesday (Nov. 25) while Gillian continues to fight for her life after being diagnosed with COVID-19.
B.C. mom with COVID-19 still fighting for life while newborn baby now at home

Son was delivered Nov. 10 while Gillian McIntosh was in an induced coma

The Rutland IGA is located in Willow Park Shopping Centre at 590 BC-33. (Michael Rodriguez - Kelowna Capital News)
Customer asked to mask up, throws hot coffee at Kelowna IGA employee

The woman grabbed cat food on her way out when she refused to wear a mask

B.C. Premier John Horgan, a Star Trek fan, can’t resist a Vulcan salute as he takes the oath of office for a second term in Victoria, Nov. 26, 2020. (B.C. government)
Horgan names 20-member cabinet with same pandemic team

New faces in education, finance, economic recovery

Police service dog Fitz helped track and rescue a lost hiker and his dog in Kelowna. (Kelowna RCMP)
Okanagan police dog Fitz dies of cancer

Fitz recently helped locate a lost hiker in the Central Okanagan

Resident wants City of Salmon Arm to take action to eradicate rat population in town. (File photo)
Salmon Arm resident demands action to eradicate rats

City posts more information on social media, will consider more action at budget time

Most Read