The accused was charged with four counts of fraud over $5000 relating to his operation of Majestic Supply Company Inc. and Suncastle Developments Incorporated.
The Crown alleged that the accused made false representations to investors regarding the development and exclusivity of a revolutionary water-based ink and other printing technologies, and that he deliberately thwarted the Ontario Securities Act to avoid filing a prospectus.
The court found the accused's testimony to be untruthful and accepted the evidence of the investors and other witnesses.
The court concluded that the accused made false representations to entice investments and that his deliberate breaches of the Securities Act constituted 'other fraudulent means'.
The accused was found guilty on all four counts.
