The Alberta Securities Commission issued a permanent market participation ban against Dane Michael Skinner after a criminal court found he committed fraud and money laundering in connection with raising money from investors. Skinner was found guilty in May 2024 of one count of fraud over CAD 5,000 and one count of laundering the proceeds of crime, and was sentenced in December 2024 to eight years’ imprisonment and ordered to pay CAD 2.37 million in restitution. The sentencing decision described how Skinner solicited investment for a purported product he claimed would “revolutionize” fracking, using companies including 1366983 Alberta Ltd. and 1367158 Alberta Ltd., and later 1518869 Alberta Ltd. and N.E.X.T./NEXT Legacy Technologies Ltd. Investors were told the product had been successfully tested and that contracts, royalties, and multi-million dollar purchase offers existed, but there was no evidence of tests or contracts; at least 70 investors were defrauded of no less than CAD 2.97 million. Skinner was not registered with the ASC in any capacity between March 1, 2003 and April 7, 2025. Under the ASC order dated September 30, 2025, Skinner must permanently cease trading in or purchasing securities or derivatives and cannot rely on any exemptions under Alberta securities laws. He must immediately resign any positions held and is permanently prohibited from acting as a director or officer across a broad range of regulated entities, and from engaging in investor relations, advising in securities or derivatives, acting as a registrant, investment fund manager or promoter, or serving in a management or consultative capacity in connection with securities market activities.

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