News Release
April 4, 2005
Financial Services Commission/// - 275
CEASE TRADE ORDER ISSUED AGAINST A SASKATOON MAN FACING FRAUD CHARGES
The Securities Division of the Saskatchewan Financial Services Commission issued a Temporary Cease Trade Order against a Saskatoon man with a lengthy criminal record and a female partner. The pair is attempting to raise money regarding hedge funds. The order was issued on Thursday, March 30th. Promotional material for these funds are misleading as it infers a relationship with the Saskatoon Synchrotron and Canadian Light Source Inc. Edouard Bonamie, also known as Nicholas Bonamy, Nicholas Grimaldi and Nicholas Ives, together with Pat Theriault are promoting investment in two of their hedge funds – The World of Synchrotron Performance Fund and Family Circle 40/40 Fund. The promotion is being done on the web site of their company – Ives Business Services Inc. Bonamie is currently facing numerous fraud charges arising out of the failed Geno Centre in Saskatoon during 2001. He also has a lengthy criminal record dating back to 1972, which includes a multitude of fraud convictions. "The Cease Trade Order was issued primarily because Bonamie is not the type of individual we want involved in selling securities in this province," Securities Division Enforcement Deputy Director Vic Pankratz said. "In addition the manager of these funds, Ives Business Services Inc., is not registered with the Securities Division as an advisor." The Cease Trade Order may be seen on the Securities Division web site at www.sfsc.gov.sk.ca under the Enforcement Directory. If anyone has been contacted by Edouard Bonamie, Pat Theriault or their company Ives Business Services Inc. concerning investments, they are encouraged to contact the Securities Division of the Financial Services Commission.-30-
For More Information, Contact:
| Vic Pankratz Financial Services Commission Regina Phone: (306) 787-5850 Cell: (306) 536-4166 |