Ontario Securities Commission
Ontario Securities Commission
Commission des valeurs mobilières de l’Ontario
P.O. Box 55, 19^th^ Floor 20 Queen Street West Toronto ON M5H 3S8
CP 55, 19e étage 20, rue Queen Ouest Toronto ON M5H 3S8
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF L. JEFFREY POGACHAR, PAOLA LOMBARDI, ALAN S. PRICE, NEW LIFE CAPITAL CORP., NEW LIFE CAPITAL INVESTMENTS INC., NEW LIFE CAPITAL ADVANTAGE INC., NEW LIFE CAPITAL STRATEGIES INC., 1660690 ONTARIO LTD., 2126375 ONTARIO INC., 2108375 ONTARIO INC., 2126533 ONTARIO INC., 2152042 ONTARIO INC., 2100228 ONTARIO INC., AND 2173817 ONTARIO INC.
Hearing:
December 5, 7-9, and 12, 2011 January 20, 2012
Panel:
Edward P. Kerwin
- Commissioner and Chair of the Panel
Paulette L. Kennedy
- Commissioner
Appearances:
Matthew Britton
- For Staff of the Commission
No one appeared for the Respondents:
- Jeffrey Pogachar
- Paola Lombardi
ORAL DECISION
The following text has been prepared for purposes of publication in the Ontario Securities Commission Bulletin and is based on excerpts of the transcript of the hearing. The excerpts have been edited and the text has been approved by the chair of the panel for the purpose of providing a public record of the decision.
1The following is our decision on the merits in this matter. We are not issuing reasons for our decision at this time. Reasons will be issued in due course.
2Staff's evidence in this matter is uncontroverted. The respondents were given full notice and were well aware of the timing and dates for the hearing on the merits and today's final session. They have chosen not to attend and they have chosen not to testify.
3We accept Staff's view of the facts as presented. We will set out in our reasons our specific findings of fact. For today, we wish to state that we find that the respondents breached the Securities Act as alleged.
4Specifically,
a) The respondents, Pogachar and Lombardi, perpetrated a fraud on investors by using funds raised from the sale of securities for their own personal purposes, contrary to section 126.1(1)(b) of the Securities Act, R.S.O. 1990 c. S.5, as amended.
b) The respondents, Pogachar and Lombardi, traded securities without being registered to trade securities in accordance with Ontario securities law, contrary to section 25(1)(a) of the Act.
c) The respondents, Pogachar and Lombardi, being officers and directors of the corporate respondents, authorized, permitted or acquiesced in the breaches of Ontario securities law by the corporate respondents contrary to section 129.2 of the Act.
5We also find that the respondents breached Ontario securities law and acted contrary to the public interest.
6Those are our determinations at this time. Following the issuance of our reasons in due course, the Secretary of the Commission will set a date for a sanctions hearing in this matter.
Approved by the Chair of the panel on January 26, 2012.
"Edward P. Kerwin"

