TORONTO, May 7, 2012 /CNW/ - On May 2, 2012, the Ontario Securities Commission (OSC) laid quasi-criminal charges against Michael Chomica, Jan Chomica, Peter Siklos and Anna Hrynisak in connection with alleged breaches of section 122(1)(c) of the Securities Act (Ontario).
Michael Chomica, Jan Chomica, Peter Siklos and Anna Hrynisak were each charged with one or more counts of engaging or participating in an act, practice or course of conduct relating to securities that perpetrated a fraud contrary to section 126.1(b) of the Securities Act, thereby committing offences contrary to section 122(1)(c) of the Securities Act.
A first appearance is scheduled for June 12, 2012 at 11:00 a.m., Courtroom 111, at Old City Hall, 60 Queen Street West, Toronto.
Under section 122 of the Securities Act, the OSC has the authority to lay quasi-criminal charges against individuals or companies in the Ontario Court of Justice for alleged violations of the Act. The maximum penalty available upon conviction is a fine of not more than $5 million or imprisonment for a term of not more than five years less a day, or both. The OSC pursues cases in court in order to seek sanctions and penalties that send a strong message of deterrence and denunciation to those who try to exploit investors.
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 capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC's investor materials available at www.osc.gov.on.ca
For further information:
Manager, Public Affairs
Media Relations Specialist
For Investor Inquiries:
OSC Contact Centre
1-877-785-1555 (Toll Free)