The defendant pleaded guilty to five offences under the Securities Act, including trading in unregistered securities, distributing securities without a prospectus, and violating multiple Cease Trade Orders issued by the Ontario Securities Commission.
The defendant, acting as a commissioned salesman for an unregistered securities scheme, solicited over $220,000 from investors using an alias and received approximately $44,000 in commissions.
The court sentenced the defendant to 18 months imprisonment, with sentences on the CTO violation counts served consecutively to the trading and distribution counts, but concurrent with an existing 27-month sentence for related offences in the Shallow Oil matter.
