The Alberta Securities Commission (ASC) issued a Notice of Hearing alleging that Terrance Anthony Sweeney perpetrated a fraud on investors and made misleading or untrue statements to ASC staff. The notice alleges that between January 1, 2022 and June 30, 2023, Sweeney raised approximately CAD 222,800 from 15 investors, representing that funds would be used for foreign exchange trading but misappropriating a significant portion for personal expenses and other unauthorized uses, resulting in substantial or total investor losses. It also alleges that he provided false or misleading statements during an investigation with ASC staff; the allegations have not been proven. An appearance to set a hearing date is scheduled for August 13, 2025 at the ASC Hearing Room in Calgary.
Alberta Securities Commission 2025-07-02
Alberta Securities Commission issues notice of hearing alleging investor fraud and misleading statements by Terrance Anthony Sweeney
The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Terrance Anthony Sweeney for allegedly defrauding investors and making misleading statements to ASC staff. Sweeney is accused of raising approximately CAD 222,800 from 15 investors for foreign exchange trading but misappropriating funds for personal use, leading to significant losses. The allegations remain unproven, with a hearing date to be set on August 13, 2025.