Three Toronto men charged for illegally trading securities

Three men from Toronto have been charged with fraud and trading in securities without registration and without a prospectus, the OSC said on Tuesday.

Carlos Da Silva, Sei-Jin Ki and Kamal Singh “Bobby” Athwal were business associates who sold approximately $140,000 worth of securities in Toronto Scientific Medtech Inc. to Ontario investors in 2016 and 2017, the OSC alleged in a release.

Da Silva, whom the OSC banned from trading securities in 2008, was also charged with trading securities while permanently prohibited. He has previous securities-related convictions.

The three men are scheduled to appear in court on Dec. 4.

They were charged after an investigation by the Joint Serious Offences Team, an enforcement partnership between the OSC, the RCMP’s financial crime program and the Ontario Provincial Police’s anti-rackets branch.

Staff

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