Court Dismisses Ronald Aitkens' Appeal of Fraud Conviction

Canada ASC News Releases

Filed February 17th, 2026

Detected March 13th, 2026

Summary

The Alberta Securities Commission (ASC) announced that the Court of King's Bench dismissed Ronald Aitkens' appeal of his 2024 conviction and sentence for fraud and making false or misleading statements. The appeal related to securities distributed through an offering memorandum for Legacy Communities Inc.

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What changed

The Court of King's Bench of Alberta, through Justice G.H. Poelman, has dismissed Ronald Aitkens' appeal concerning his 2024 conviction and sentence for fraud and making false or misleading statements. The original conviction, stemming from the distribution of securities for Legacy Communities Inc. via an offering memorandum, was for violations of the Alberta Securities Act. Aitkens had been sentenced to four years in jail in August 2024.

This decision upholds the original conviction and sentence, meaning Aitkens' appeal grounds regarding both the conviction and the sentence were found to be without merit. The Alberta Securities Commission, as the provincial securities regulator, oversees these enforcement actions to ensure fair capital markets and investor protection. This outcome reinforces the consequences for fraudulent activities within the securities market.

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Court of King’s Bench dismisses appeal of conviction and sentence by Ronald Aitkens

Feb 17, 2026

CALGARY – February 17, 2026 – On February 11, 2026, Court of King’s Bench of Alberta Justice G.H. Poelman dismissed an appeal filed by Ronald James Aitkens in relation to his 2024 conviction and sentence.

In July 2020, Aitkens was convicted in the Provincial Court of Alberta (now Alberta Court of Justice) of one count of fraud and another count of making false or misleading statements in an offering memorandum, contrary to the Alberta Securities Act. The findings stemmed from the distribution and sale of securities, through the use of the offering memorandum exemption, in a real estate investment opportunity known as Legacy Communities Inc.

Aitkens was sentenced in August 2024 to a total of four years in jail for these offences.

Justice Poelman found there was no merit in all the grounds of appeal relating to the conviction and relating to the sentence.

A copy of the Reasons for Decision can be found on the ASC website at asc.ca.

The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.

For Media Inquiries:

Tanja McMorris
Alberta Securities Commission
[email protected]

For Investor Inquiries:

ASC Public Inquiries
Toll Free 1-877-355-4488
[email protected]