The offender was found guilty of trading without registration, failing to file a prospectus, and fraud under the Ontario Securities Act.
He operated two companies that fraudulently took over $5 million from investors under the guise of mortgage investments, diverting at least $2 million for personal use.
The court weighed the significant aggravating factors, including the devastating financial impact on over 70 victims, against mitigating factors such as the offender's age, prior good character, and health issues.
The offender was sentenced to 3.5 years in prison and ordered to pay $4,859,552.58 in restitution.