It found that Jan Cerato, also known as Jan Strzepka, raised more than $200,000 from at least 16 investors but failed to file a prospectus that would outline to them the risks the investments would carry.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“WhaleClub members were exposed to significant financial risks that they did not fully appreciate when they invested.” When reached by Postmedia, he did not agree to an interview and instead referenced several blog posts where he claims to have been bullied by the ASC and declares his innocence.Advertisement 4‘A huge embarrassment’
“It’s been a huge embarrassment in my life in front of my friends and family,” another investor told the ASC.In determining the sanctions, the ASC noted Cerato’s “belligerent contempt” towards the investors after WhaleClub’s failure.