Staff of the Ontario Securities Commission sought a reciprocal order under s. 127(10) of the Securities Act based on an Alberta Securities Commission decision.
The ASC found that the respondents engaged in unregistered trading, illegal distribution, and fraud, raising over $5.8 million from investors and misappropriating a significant portion for personal use.
The Commission found it in the public interest to issue reciprocal orders permanently banning the respondents from participating in Ontario's capital markets to protect investors.
