OSC Lays Fraud Charges against Abraham Herbert Grossman, Abel Da Silva, Eric O’Brien, and Shallow Oil & Gas Inc.

TORONTO - On June 12, 2008, the Ontario Securities Commission laid 19 charges under the Securities Act against Abraham Herbert Grossman (also known as Allen Grossman), Abel Da Silva, Eric O’Brien, and Shallow Oil & Gas Inc.

The charges against the defendants include, among others, securities fraud, breaching previous cease trade orders issued by the Commission, misleading the Commission in the course of a hearing, misleading Staff of the Commission and illegally trading securities.

The first appearance in this matter is scheduled for 9:30 a.m. on July 14, 2008 at the York Region Courthouse, 50 Eagle Street in Newmarket, Ontario.

Abraham Herbert Grossman, Abel Da Silva, and Eric O’Brien are currently subject to cease trade orders issued by the Commission in relation to this matter. They will appear at a separate Commission hearing on November 25, 2008 in connection with the Statement of Allegations of Staff dated June 10, 2008.

Copies of the charges are set out in Appendix “A” to the Information and are available on the OSC website www.osc.ca.

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. Investors are urged to check the registration of any person or company offering an investment opportunity and to review the OSC investor education materials available at www.checkbeforeyouinvest.ca

 

 

For Media Inquiries:	Wendy Dey Director, Communications & Public Affairs 416-593-8120 Laurie Gillett Manager, Public Affairs 416-595-8913 Carolyn Shaw-Rimmington Assistant Manager, Public Affairs 416-593-2361
For Investor Inquiries:	OSC Contact Centre 416-593-8314 1-877-785-1555 (Toll Free)