OSC announces allegations against Daniel St-Jean and his companies

TORONTO – Today the Ontario Securities Commission (OSC) announced allegations against Daniel St-Jean and his companies AETOS Green Energy DSJ Inc., 7120761 Canada Inc., and 8795436 Canada Inc.

The OSC alleges that between January 21, 2020, and November 3, 2023, Daniel St-Jean raised at least $33 million for real estate and other investment projects from over 250 investors by selling investment agreements in violation of the prospectus requirements. He is also alleged to have defrauded investors through AETOS by misusing at least $5.5 million of investor funds intended for a residential development in Hantsport, Nova Scotia.

Mr. St-Jean is alleged to have traded securities related to the project without proper registration. It is also alleged that during an OSC investigation, Mr. St-Jean unlawfully disclosed confidential information to third parties in breach of s.16 of the Securities Act.

The OSC alleges Mr. St-Jean’s actions harmed investors and compromised the integrity of the capital markets, prompting regulatory action.

A case management hearing will be held before the Capital Markets Tribunal on September 30, 2025 at 10:00 a.m. (ET). A copy of the Application for Enforcement Proceedings is available on the Capital Markets Tribunal website.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, 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.ca.

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