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Ontario Court sentences Jose L. Castaneda
For Immediate Release Before the Court OSC
News Release |
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Ontario Securities Commission 20 Queen St. W. Box 55, Suite 1900 Toronto, ON M5H 3S8 |
Commission des valeurs mobilières de l'Ontario |
FOR IMMEDIATE RELEASE January 22, 2008 |
Ontario Court sentences Jose L. Castaneda
TORONTO – On Friday, January 18, 2008, Justice Fairgrieve of the Ontario Court of Justice sentenced Jose L. Castaneda to two years less a day imprisonment on one count of fraud over $5000, pursuant to the Criminal Code.
In addition, Mr. Castaneda received a six-month sentence of imprisonment for trading in securities without being registered to do so, and a separate six-month sentence of imprisonment for contravening Ontario Securities Law by trading in securities while subject to a cease-trade order issued by the Ontario Securities Commission (OSC). The three sentences will be served concurrently.
Pursuant to the restitution order provisions of the Criminal Code, Justice Fairgrieve also ordered Mr. Castaneda to make payments totalling $848,500 to his victims.
The OSC proceedings against Jose L. Castaneda before a Commission panel will continue on February 19, 2008.
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