David Borg Charged Quasi Criminally with Unregistered Trading

TORONTO – The Ontario Securities Commission (OSC) announced today that David Borg of Toronto was charged with an alleged breach of s. 122(1)(c) of the Securities Act (Ontario) following an investigation by the OSC’s Joint Serious Offences Team (JSOT).

Borg has been charged with one count of trading without registration. The charges relate to his alleged role in selling shares of Enriching Pictures Inc. to investors. It is alleged that approximately $700,000 was received from investors.

“Our Joint Serious Offences Team has been very active since it was established and is focussed on protecting investors from individuals who are not registered,” said Tom Atkinson, Director of Enforcement at the OSC.

The first court appearance for Borg in this matter is scheduled to take place January 14, 2014, at 11:00 a.m. in Courtroom 111 at Old City Hall in Ontario Court of Justice, 60 Queen Street West, Toronto, Ontario.

JSOT was established in May 2013 by the OSC as an enforcement partnership between the OSC and the Royal Canadian Mounted Police Financial Crime program. 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 (Ontario) and/or the Criminal Code of Canada.

Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC investor materials available at www.osc.ca.

 

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