News & Events

Welcome Place 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 March 1, 2008 and May 15, 2013.

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 individuals:  Welcome Place Inc. (“Welcome Place”), Talat Ashraf, Daniel Maxsood, also known as Muhammad M. Khan and Tao Zhang.

Commission documents related to this matter are available on the OSC’s website at: www.osc.gov.on.ca

For soft copies of claims package documents, visit: www.attorneygeneral.jus.gov.on.ca/english/CRIAvictims