Danny De Melo and Steven Hill Each Sentenced to 90 Days in Jail for Breaching Ontario Securities Commission Cease Trade Order

TORONTO, April 19 /CNW/ - Regional Senior Justice Bigelow of the Ontario Court of Justice yesterday sentenced Danny De Melo and Steven Hill to 90 days in jail and one year of probation each for violating the terms of an Ontario Securities Commission cease trade order.  Danny De Melo and Steven Hill were also ordered to make restitution totalling $993,089.67 to 22 Ontario investors.  Under the terms of the probation orders, Danny De Melo and Steven Hill are prohibited from trading in securities and were each ordered to complete 100 hours of community service work.

The cease trade orders that Steven Hill and Danny DeMelo violated were first made in July of 2009.  These orders were also made against Hillcorp International Services, Suncorp Holdings and other affiliated companies and remain in effect. Cease trade orders prohibit individuals or companies from trading in securities. Violations of cease trade orders can result in a quasi-criminal prosecution under section 122 of the Securities Act (Ontario).

The mandate of the Ontario Securities Commission is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets.  Investors are urged to check the registration of any person or company offering an investment opportunity and to review the Ontario Securities Commission's investor materials available at www.osc.gov.on.ca.

SOURCE Ontario Securities Commission

For further information:

For Media Inquiries:

Wendy Dey
Director, Communications & Public Affairs
416-593-8120

Carolyn Shaw-Rimmington
Manager, Public Affairs
416-593-2361

Dylan Rae
Media Relations Specialist
416-595-8934

For Investor Inquiries:

OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.