Recidivist Michelle Dunk sentenced to jail for violations of Securities Act
For Immediate Release Enforcement OSC Before the Court
TORONTO - The Ontario Securities Commission (OSC) announced today that Michelle Dunk (“Dunk”) of Waterloo, Ontario, was sentenced to two years less a day in jail by Justice Sopinka of the Ontario Court of Justice in Kitchener, Ontario, on October 17, 2018.
Following an investigation by the Joint Serious Offences Team (JSOT) and a subsequent trial in the Ontario Court of Justice, Dunk was found guilty of fraud and three other violations of the Securities Act (Ontario) on April 23, 2018. This conviction relates to Dunk’s fraudulent sale of promissory notes for Rocky Point Energy and Hockley Energy Inc. securities to four investors.
Dunk’s sentence on October 17, 2018, also includes an order to pay a total of $158,435 in restitution to these investors.
In imposing the sentence, Justice Sopinka wrote, “Ms. Dunk's actions were motivated solely by financial gain without regard for the path of destruction she caused to the financial stability of the individuals she solicited.”
Dunk remains subject to a Commission order imposed on January 6, 2015, which prohibits her from engaging in the business of trading or selling securities.
A copy of the Reasons for Sentence can be obtained from the Ontario Court of Justice.
To date, JSOT has pursued 42 matters involving 58 accused.
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. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The OSC's partnership with law enforcement allows for criminal charges to be laid by JSOT members, which include police officers seconded to the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.
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