The Alberta Securities Commission issued a permanent market ban against Dane Michael Skinner after a criminal court found he committed fraud and money laundering. The order requires Skinner to permanently cease trading in or purchasing any securities or derivatives, removes the availability of all exemptions under Alberta securities laws, and compels him to resign any positions he holds while permanently prohibiting him from acting as a director or officer across issuers and a range of regulated market entities. The panel relied on findings that Skinner solicited investments by claiming to have developed a product that would “revolutionize” fracking, using 1366983 Alberta Ltd. and 1367158 Alberta Ltd., and later 1518869 Alberta Ltd. and N.E.X.T./NEXT Legacy Technologies Ltd., after the earlier companies became subject to an ASC investigation and were placed into receivership. Investors were misled about successful testing and the existence of royalty contracts and multi-million-dollar purchase offers, with the sentencing decision finding no evidence of tests or contracts; at least 70 investors were defrauded of no less than CAD 2.97 million. Skinner was convicted in May 2024 and, in December 2024, was sentenced to eight years’ imprisonment and ordered to pay CAD 2.37 million in restitution, and the panel described the misconduct as a complex, deliberately orchestrated scheme that continued for over five years.
Alberta Securities Commission 2025-10-02
Alberta Securities Commission permanently bans Dane Michael Skinner from Alberta capital markets after fraud and money laundering conviction
The Alberta Securities Commission has permanently banned Dane Michael Skinner from market activities following his conviction for fraud and money laundering. Skinner misled investors with false claims about a fracking product, defrauding at least 70 investors of CAD 2.97 million. He was sentenced to eight years in prison and ordered to pay CAD 2.37 million in restitution.