OSC charges three with violating cease trade orders

That ban followed a criminal conviction in 2007, which saw him plead guilty to market manipulation and money laundering. He was sentenced to seven years in jail and ordered to pay $2.6 million in restitution in that case. The OSC notes that, “Mitton’s behaviour is notorious, having received approximately 100 criminal convictions since 1977 for fraud, forgery, false pretences, money laundering and related conspiracies.”

Mitton is scheduled to appear in court to face this latest charge on March 13 at the Ontario Court of Justice in Toronto.

In an unrelated case, the OSC also announced that Sunil Tulsiani of Brampton, Ont. has been charged with one count of trading without registration and one count of trading while prohibited. He was permanently banned from trading back in 2012 after a contested hearing found that he violated securities laws by trading without registration.

See: OSC bans pair for sale of unregistered bonds

Tulsiani is scheduled to appear in court on March 25 at the Ontario Court of Justice in Brampton, Ont.

Separately, the OSC also charged Omar Maloney of Stouffville, Ont. with two counts of trading while prohibited. He was banned from trading for 15 years back in 2011.

See: OSC imposes sanctions against Phoenix group

Maloney is scheduled to appear in court on March 13 at the Ontario Court of Justice in Toronto.

None of the allegations have been proven. The charges in each case were brought following an investigation by the OSC’s Joint Serious Offences Team (JSOT), which is an enforcement partnership between the OSC, the RCMP Financial Crime program and the OPP’s Anti-Rackets Branch.