Staff of the Ontario Securities Commission sought a permanent order imposing sanctions against the respondent under the inter-jurisdictional enforcement provision of the Securities Act.
The respondent had previously consented to a final judgment in the United States for orchestrating a fraudulent scheme involving the sale of unregistered securities and misappropriating investor funds.
The Commission found that the respondent's conduct in the US was egregious and contrary to the public interest.
The Commission granted the order, permanently banning the respondent from trading in securities, acquiring securities, and acting as a director or officer of any issuer.
