OSC seeking permanent ban for convicted securities fraudster

The Ontario Securities Commission (OSC) is seeking a permanent ban against a convicted fraudster and recidivist who previously agreed to an eight-year trading ban, the commission announced Wednesday.

Michelle Dunk was convicted of fraud, unregistered trading, illegal distribution and violating an OSC order earlier this year. In October, the Ontario Court of Justice sentenced her to two years less a day in prison.

Dunk was convicted for involved securities transactions, the OSC says in its statement of allegations. As a result, it is seeking an inter-jurisdictional enforcement order permanently banning her from trading, registration and acting as a director or officer of an issuer.

Dunk was subject to a temporary cease trade order (CTO) issued by the OSC in 2011, and she agreed to an eight-year trading ban in 2015.

In 2016, Dunk pleaded guilty to breaching the temporary CTO by soliciting investments in an oil company, and was sentenced to 75 days in jail and two years of probation.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.