The Jack Neufeld Family Charitable Foundation (the “Foundation”) wishes to clarify certain public information relating to a finding issued by the Manitoba Securities Commission.
The finding concluded that the Foundation had engaged in trading without a prospectus and imposed a monetary penalty accordingly.
At the time in question, I was involved in the financial oversight of the Foundation in my capacity as a director and officer.
The fraudulent activity referenced in the proceeding was not channelled through the Foundation’s bank accounts, nor was it conducted by the Foundation.
Third parties falsely represented themselves as being associated with, or acting on behalf of, the Foundation and used an unauthorized money transfer agency to collect funds under false pretenses.
Neither the Foundation, nor I personally, were aware that this activity was taking place at the time it occurred.
The Foundation did not authorize these individuals, did not receive the funds that were fraudulently collected, and did not benefit in any way from the scheme.
The Foundation has long maintained, and continues to maintain, sound and effective governance, financial controls, and oversight policies.
I continue to remain in good standing as a director and officer and hold the ICD.D designation in good standing.
Funds raised for charitable purposes have been used exclusively for charitable activities and not for penalties or legal matters relating to this proceeding.
This statement is provided to ensure that the public record reflects the material facts and clearly distinguishes the actions of unrelated third-party fraudsters from the operations and governance of the Foundation.
Jack Neufeld, ICD.D
President and Director
The Jack Neufeld Family Charitable Foundation