Complaints & Guidance

Investor Alerts

The Manitoba Securities Commission
1130-405 Broadway
Winnipeg, MB
R3C 3L6

December 18, 2003

For Immediate Release

Public warned to be aware of Illegal Investment Opportunities

Winnipeg, - The Manitoba Securities Commission is releasing an Investor Alert regarding Skyward Management Inc., Commonwealth Marketing Group Ltd., William Serediuk, and Robert J. Smith of Airdrie, Alberta.

Serediuk and Smith have recently been soliciting money from Manitobans for two separate investment scams. The first scam involves letters of credit or mid term notes where by individuals are being offered 12% per month return on their money. Proceeds from this transaction are being transferred to an account in Belize.

The second investment requires that an individual transfer their RRSP account to a Trust Company in British Columbia. The investments in the RRSP account are replaced with possibly worthless second mortgage properties. Individuals are told that a12% annual return will be realized on mortgage property investment. In reality, they have your cash and the individual holds a potentially worthless investment.

Commission staff have learned that Skyward Management Inc. is affiliated with HMS Financial which operate out of Linden, Alberta. A Cease Trade Order has been issued by the Saskatchewan Securities Commission against HMS Financial.

Serediuk and Smith have stated that Skyward Management Inc. has raised 12 million dollars since March 2003 from clients in Canada and the United States.

The public is being warned that none of the above named entities are permitted to collect money from the public in this way. If you have invested your money with them, your money may be at risk. If anyone has been solicited by William Serediuk, and Robert J. Smith or given money to them for investment purposes, please contact Jason Roy, Investigator with The Manitoba Securities Commission at 945-4116.

Media relations contacts:
Manitoba Securities Commission
Ainsley Cunningham
1-800-655-5244 (Manitoba only)