TORONTO, March 9, 2016 /CNW/ - The Ontario Securities Commission (OSC) announced today that Oliver Folkard of no fixed address, Rupert Folkard of Toronto, Ontario and Joseph Goldfinger of Toronto, Ontario have been charged with alleged breaches of the Criminal Code of Canada (Criminal Code) following an investigation by the OSC's Joint Serious Offences Team (JSOT).
Oliver Folkard has been charged with the following offences:
1. Eleven counts of fraud over $5000, contrary to section 380(1) (a) of the Criminal Code.
2. Three counts of fraud under $5000, contrary to section 380(1) (b) of the Criminal Code.
3. One count of uttering a forged document, contrary to section 368(1) (b) of the Criminal Code.
Rupert Folkard has been charged with four counts of fraud over $5000, contrary to section 380(1) (a) of the Criminal Code.
Joseph Goldfinger has been charged with the following offences:
1. Four counts of fraud over $5000, contrary to section 380(1) (a) of the Criminal Code.
2. One count of uttering a forged document, contrary to section 368(1) (b) of the Criminal Code.
It is alleged that between January 1, 2014 and February 29, 2016, the Folkards and Goldfinger investors either in an advance fee scheme, where victims paid to repair their credit ratings and/or obtain lines of credit, or in a fraudulent virtual currency scheme, to which some victims were directed by Oliver Folkard and Goldfinger to invest funds. In one case, an investor was given an allegedly forged Investment Account Statement showing that his money had tripled in value in three months. It is further alleged that investor funds were not used for the intended purpose.
An arrest warrant has been issued for Oliver Folkard as he is not believed to be in Canada at present.
Rupert Folkard and Joseph Goldfinger are scheduled to appear in court on this matter on April 15, 2016 at 2:00 p.m. in Courtroom # 407 at the Ontario Court of Justice, 1911 Eglinton Avenue East, Toronto, Ontario.
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
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SOURCE Ontario Securities Commission
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