20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
|Commission des valeurs mobilières de l'Ontario
||FOR IMMEDIATE RELEASE
December 23, 2011
OSC Lays Quasi Criminal Charges Against Abel Da Silva
TORONTO – On December 20, 2011, the Ontario Securities Commission (“OSC”) laid quasi-criminal charges against Abel Da Silva (“Da Silva”) for trading in securities of Moncasa Capital Corporation (“Moncasa”) without registration, trading in securities of Moncasa without a prospectus and trading in securities of Moncasa when he was prohibited from trading in securities by several orders of the OSC.
Da Silva is currently serving a 27 month sentence for his role in running a “boiler room” operation involving shares of Shallow Oil and Gas Inc., for breaches of temporary cease trade orders made by the OSC and for misleading Staff of the Commission.
A first appearance for Da Silva is scheduled for January 17, 2012 at Old City Hall Court, 60 Queen Street West, Toronto, Ontario.
Under section 122 of the Act, the OSC has the authority to lay quasi-criminal charges against individuals or companies in the Ontario Court of Justice for alleged violations of the Act. Quasi-criminal means that a jail term is a possible sanction if a defendant is convicted of a violation of the Act. The OSC pursues cases in court in order to seek sanctions and penalties that send a strong message of deterrence to those who try to exploit investors.
The mandate of the OSC 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 OSC’s investor materials available at www.osc.gov.on.ca.
|For Media Inquiries: firstname.lastname@example.org||Wendy Dey
Director, Communications & Public Affairs
Manager, Public Affairs
Media Relations Specialist
|For Investor Inquiries:||OSC Contact Centre
1-877-785-1555 (Toll Free)