Ontario Ministry of the Attorney General Notice: Civil Forfeiture Proceeding In the Matter of Phoenix Credit Risk Management Consulting Inc. and Others

Phoenix Credit Risk Management Consulting Inc. and Others

The Ontario Securities Commission (OSC) and the Civil Remedies for Illicit Activities Office (CRIA), Ministry of the Attorney General of Ontario (AGO), have entered into a Memorandum of Understanding, to exchange information and administer the Civil Remedies Act, 2001.

This Act allows the AGO to ask the court for an order to freeze, take possession of, and forfeit to the Crown, property that is determined to be a proceed or instrument of unlawful activity.

This notice relates to funds forfeited in relation to activity in contravention of the Ontario Securities Act that occurred between January 1, 2007 and June 30, 2009.

Victims of the specific unlawful activity that lead to this forfeiture may submit a claim for compensation.

This notice contains information about the claims process for funds forfeited in relation to a matter known as and/or related to the following companies or parties:

2195043 Ontario Inc., Great Pacific International Inc. (GPI), OSE Corp. (OSE), Phoenix Capital Resources Inc., Phoenix Credit Risk Management Consulting Inc., Phoenix Pension Services Inc. (Phoenix), Rathore & Associates Asset Management Ltd. (R&A), Jawad Rathore, Vincenzo Petrozza, Omar Maloney and Thalbinder Poonian.

Commission documents related to this matter are available on the OSC’s website at https://capitalmarketstribunal.ca/en/proceedings/phoenix-credit-risk-management-consulting-inc-re

 

 

MINISTRY OF THE ATTORNEY GENERAL
Civil Remedies for Illicit Activities Office (CRIA)
Statutory Notice 531-16 made under Ontario Regulation 498/06
ATTORNEY GENERAL OF ONTARIO

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$ 2,955,212 IN CANADIAN CURRENCY (IN REM)
 

 

This notice relates to funds forfeited in relation to activity in contravention of the Ontario Securities Act that occurred between January 1, 2007 and June 30, 2009.

The matter is also known as and/or related to the following companies or individuals: 2195043 Ontario Inc., Great Pacific International Inc. (GPI), OSE Corp. (OSE), Phoenix Capital Resources Inc., Phoenix Credit Risk Management Consulting Inc., Phoenix Pension Services Inc. (Phoenix), Rathore & Associates Asset Management Ltd. (R&A), Jawad Rathore, Vincenzo Petrozza, Omar Maloney and Thalbinder Poonian.

This proceeding, commenced under the Civil Remedies Act, 2001, has resulted in the sum of $2,955,212 being deposited into a special purpose account.

All individuals or other persons who have suffered pecuniary or non-pecuniary losses (money or non money damages) as a result of the unlawful activity that was the subject of the forfeiture proceeding are entitled to make a claim for compensation.

The Crown, a municipal corporation or a public body that is a member of one of the classes of public bodies prescribed in the regulation that suffered pecuniary losses as a result of the unlawful activity that are expenses incurred in remedying the effects of the unlawful activity are also entitled to make a claim for compensation.

All claims must comply with section 6 of Ontario Regulation 498/06 or they will be denied. Regulation 498/06 may be found at: http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_060498_e.htm.

To obtain a claims package visit https://www.attorneygeneral.jus.gov.on.ca/english/CRIAvictims/.

If you have questions regarding entitlement to compensation, or the claims package, email us at
[email protected]; call us toll free at 1-888-246-5359; Fax to 416-314-3714 or write to:

Civil Remedies for Illicit Activities Office (CRIA) Ministry of the Attorney General
77 Wellesley Street West, P.O. Box 555
Toronto, ON, CANADA M7A 1N3

All completed claims must refer to Notice 531-16 and be received by CRIA no later than 5:00 PM EST on October 10, 2018 or they will not be considered. Completed claims may be submitted either in writing to the above address or electronically to the above e-mail account or via fax.

You may not be eligible for compensation if you took part in the unlawful activity giving rise to the forfeiture proceeding. Even if you are eligible for compensation, your claim may be denied if you are unable to provide proof of your claim.