TORONTO, July 8, 2016 /CNW/ - The Ontario Securities Commission (OSC) announced today that Srikaran Chandrasekaram and Stevi-Dawn Skinner have been charged with alleged breaches of the Criminal Code following an investigation by the OSC's Joint Serious Offences Team (JSOT).
Srikaran Chandrasekaram has been charged with fraud over $5000, contrary to section 380(1) (a) of the Criminal Code.
Stevi-Dawn Skinner has been charged with fraud over $5000 contrary to section 380(1) (a) and theft over $5000, contrary to section 334(a) of the Criminal Code.
It is alleged that between November 12-15, 2015, Skinner was employed at an emergency women's shelter in Oshawa, Ontario. In her role as a care worker, Skinner convinced a resident of the shelter to close $14,000 of her mutual funds in her Tax Free Savings Account and had the victim sign a Share Purchase Agreement for $14,000 worth of shares in SRI Transport Inc., Chandrasekaram's company.
The victim also had approximately $10,000 USD in a personal safe, which disappeared with other items after showing Skinner.
Neither of the accused is registered with the Commission under the Securities Act.
Skinner is scheduled to appear in court on this matter on August 4, 2016 at 11:30 a.m. in Courtroom #108, Oshawa Court of Justice, 150 Bond St E, Oshawa, Ontario.
Chandrasekaram is scheduled to appear in court on this matter on July 26, 2016.
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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