TORONTO, April 29, 2016 /CNW/ - The Ontario Securities Commission (OSC) announced today that Michelle Dunk was sentenced to 75 days in jail and two years of probation by Mr. Justice Hearn of the Ontario Court of Justice in Kitchener.
Following an investigation by the OSC's Joint Serious Offences Team (JSOT), Dunk pleaded guilty to charges of unregistered trading and breaching a Commission order under the Securities Act (Ontario). As part of her plea agreement, Dunk made an up-front restitution payment of $60,000 to the OSC to be forwarded directly to the victim investors in this case. The court further ordered restitution in the amount of $15,554.80 to be paid to the OSC within six months of the probation order for return to the victim investors.
Between September 2011 and February 2012, Dunk was involved in the sale and distribution of Hockley Energy securities to Ontario investors. Dunk has never been registered with the Commission under the Securities Act. As well, Dunk has been prohibited from trading in securities by order of the Commission dated July 27, 2011.
Dunk continues to be subject to a cease trade order prohibiting her from trading in securities.
JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
SOURCE Ontario Securities Commission
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