The Alberta Securities Commission announced that, on February 11, 2026, the Court of King’s Bench of Alberta dismissed an appeal by Ronald James Aitkens relating to his conviction and sentence under the Alberta Securities Act. Aitkens was convicted in July 2020 in the Provincial Court of Alberta (now the Alberta Court of Justice) of one count of fraud and one count of making false or misleading statements in an offering memorandum. The findings related to the distribution and sale of securities using the offering memorandum exemption in a real estate investment opportunity known as Legacy Communities Inc. He was sentenced in August 2024 to a total of four years in jail, and Justice G.H. Poelman found no merit in any of the grounds of appeal relating to the conviction or the sentence. The reasons for decision are available on the ASC website.
Alberta Securities Commission 2026-02-17
Alberta Securities Commission reports court dismissal of Ronald James Aitkens appeal of securities fraud conviction and four-year jail sentence
The Alberta Securities Commission reported that the Court of King’s Bench of Alberta dismissed Ronald James Aitkens' appeal against his conviction and sentence under the Alberta Securities Act. Aitkens was convicted in 2020 for fraud and making false statements in an offering memorandum related to Legacy Communities Inc., resulting in a four-year jail sentence.