Chesterville couple charged with fraud under Securities Act, says Ontario Securities Commission

The Ontario Securities Commission's Toronto address. Map data: Google

TORONTO — A Chesterville couple have been charged with fraud and related offences, under Ontario’s Securities Act, according to the Crown agency regulating markets in the province.

The Ontario Securities Commission (OSC) announced the provincial charges against Marc and Helene Brunet Feb. 1, “following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT).”

Each is charged with one count of trading in securities without registration and one count of trading in securities without a prospectus. Marc Brunet also faces one count of fraud, under the same Act.

The OSC says the allegations stem from the sale of over $800,000 worth of securities in company called MultiCast Networks Holdings Inc. (MCN) to Ontario investors between Jan. 1, 2010 and Dec. 31, 2016.

A significant percentage of the money obtained was used by the Brunets for their personal benefit, the regulator also alleges.

They are scheduled to appear March 12 in Courtroom #5 at the Ontario Court of Justice, 161 Elgin St., Ottawa.

The Brunets previously lived in Kenmore before moving to Chesterville. The OSC advises any investors solicited by the Brunets or who invested in MCN or any related companies to contact the OSC’s contact centre at 1-877-785-1555 or inquiries@osc.gov.on.ca.

JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. To date, it has pursued 40 matters involving 55 accused.

The OSC urges prospective investors to check the registration of any persons or company offering an investment opportunity and to review OSC investor materials available at http://www.osc.gov.on.ca

 

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