20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
|Commission des valeurs mobilières de l'Ontario
||FOR IMMEDIATE RELEASE
April 19, 2011
Danny De Melo and Steven Hill Each Sentenced to 90 Days in Jail for
Breaching Ontario Securities Commission Cease Trade Order
TORONTO – Regional Senior Justice Bigelow of the Ontario Court of Justice yesterday sentenced Danny De Melo and Steven Hill to 90 days in jail and one year of probation each for violating the terms of an Ontario Securities Commission cease trade order. Danny De Melo and Steven Hill were also ordered to make restitution totalling $993,089.67 to 22 Ontario investors. Under the terms of the probation orders, Danny De Melo and Steven Hill are prohibited from trading in securities and were each ordered to complete 100 hours of community service work.
The cease trade orders that Steven Hill and Danny DeMelo violated were first made in July of 2009. These orders were also made against Hillcorp International Services, Suncorp Holdings and other affiliated companies and remain in effect. Cease trade orders prohibit individuals or companies from trading in securities. Violations of cease trade orders can result in a quasi-criminal prosecution under section 122 of the Securities Act (Ontario).
The mandate of the Ontario Securities Commission is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in capital markets. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the Ontario Securities Commission’s investor materials available at www.osc.gov.on.ca.
|For Media Inquiries:||Wendy Dey
Director, Communications & Public Affairs
Manager, Public Affairs
Media Relations Specialist
|For Investor Inquiries:||OSC Contact Centre
1-877-785-1555 (Toll Free)