The Ontario Securities Commission (OSC) announced Thursday that Carlos Da Silva has pled guilty earlier to disobeying a court order and being unlawfully at large following a failed appeal of his conviction for illegal trading.
Da Silva was sentenced to three months in jail, 18 months of probation and 125 hours of community service after being convicted of illegally trading the securities of Equity Capital Management in 2015. After sentencing, he was released pending an appeal of his conviction and sentence. The Ontario Superior Court of Justice rejected the appeal this past July.
According to the OSC, Da Silva left the country rather than surrendering as required by the terms of his release.
Once he returned to Canada, he did turn himself in to face the new charges brought by the OSC’s Joint Serious Offences Team, which is an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch.
Da Silva is scheduled to be sentenced on these latest charges on Jan. 29, 2018.