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

Happy hour, dance party fundraiser for Central Okanagan Food Bank

Local musicians perform a virtual concert on June 5

Central Okanagan school buses to remain parked through the summer

The board of education made the decision to nix bus services on Wednesday

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

Motor trike crashes into hole in Ellison area

A man was taken to hospital after crashing his trike on Anderson Road

Mission prison COVID-19 outbreak ends, 9 new cases in B.C.

New positive test at Port Coquitlam care home

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

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

Summerland amends procedure for virtual council meetings, adding transparency

During COVID-19 pandemic, meetings have been held using online technology

Serious vehicle incident closes Highway 97 near Falkland

DriveBC says an assessment is underway; delays expected

South Okanagan 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

‘We are not seeking a handout,’ Enderby drive-in owner says

Touched by fundraising efforts, Starlight says show support by coming to the movies instead

Most Read