Sejean Reid and Whitney Charles charged with fraud and money laundering

TORONTO, April 22, 2026 /CNW/ - The Ontario Securities Commission (OSC) announces that Mr. Sejean Reid and Ms. Whitney Charles of Oakville, Ontario have each been charged under the Criminal Code with fraud over $5,000 pursuant to s. 380(a)(a) and laundering proceeds of crime pursuant to s. 462.31.

The OSC alleges that between December 2021 and December 2023, Mr. Reid and Ms. Charles ran an investment scheme called 'Golden Zone Corporation'. Investors were told, according to the OSC's allegations, the funds were being professionally traded on well-known platforms, that their money was protected, and were promised weekly returns of 5–9%. The OSC believes these claims were false. About $4 million was collected from investors, but only a small amount was used for real investment trading. Most of the money was instead used to pay earlier investors, or for the personal use of Mr. Reid or Ms. Charles.

Mr. Reid and Ms. Charles were arrested on April 21, 2026, and released on undertakings. They are scheduled to appear in court on July 17, 2026, at 11:00 a.m. in the Ontario Court of Justice at 10 Armoury Street in Toronto, Ontario.

The OSC gratefully acknowledges the assistance provided by Halton Regional Police Services with the arrests. This investigation was also assisted by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

Any investors who were solicited by Mr. Reid or Ms. Charles, or who invested in Golden Zone, should contact the OSC's Contact Centre at 1-877-785-1555 (Toll Free) or [email protected]. The OSC would like to thank all those who have come forward with information to date.

The OSC urges investors to always check the registration of any person or business trying to sell them an investment or provide investment advice. This can be done by visiting the Check Before You Invest and Crypto businesses pages on the OSC website.

The charges in this case arise from an investigation by the OSC's Criminal Investigations & Prosecutions team, which is part of the Enforcement Division of the OSC. The team investigates securities-related fraud, market manipulation, and related misconduct, including the investigation of repeat offenders and those who breach Capital Markets Tribunal orders. Their primary objectives are to protect investors and enhance confidence in the Canadian capital markets through effective enforcement. Charges laid under the Securities Act are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. 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.ca.

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SOURCE Ontario Securities Commission

For Media Inquiries: Curtis Lindsay, [email protected]; For Investor and Industry Inquiries: 1-877-785-1555 (Toll Free), [email protected]