Sunil Tulsiani Charged Quasi-Criminally With Unregistered Trading and Breaching an OSC Cease Trade Order
For Immediate Release OSC Enforcement Before the Court
TORONTO – The Ontario Securities Commission (OSC) announced today that Sunil Tulsiani of Brampton, Ontario has been charged with further alleged breaches of the Securities Act (Ontario) following an investigation by the OSC’s Joint Serious Offences Team (JSOT).
Tulsiani was charged with two counts of trading without registration as required by section 25(1) of the Securities Act. Tulsiani was further charged with two counts of trading in securities while he was prohibited from doing so by order of the Commission dated March 22, 2012.
In February 2015, Tulsiani was previously charged by JSOT with alleged breaches of the Securities Act. This includes one count of trading without registration and one count of trading in securities while being prohibited from doing so. These allegations remain before the courts.
Tulsiani continues to be subject to a permanent cease trade order prohibiting him from trading in securities.
Tulsiani is scheduled to appear in court in this matter on December 11, 2015 at 9:00 a.m. in Courtroom #105 at the Ontario Court of Justice, 7755 Hurontario Street in Brampton, Ontario.
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.
***Update as of May 4, 2021***
On June 7, 2017, Tulsiani pled guilty before Stribopoulos, J in the Ontario Court of Justice to one count of trading without registration and one count of trading in securities while he was prohibited. He was sentenced to 24 months probation with conditions that included 200 hours of community service and a prohibition from trading in securities. A freestanding restitution order was also issued in the amount of $208,295.97.
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 and confidence in the capital markets. 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 www.osc.ca