A Toronto man stands accused of trading without registration and violating regulatory bans imposed on him by the Ontario Securities Commission (OSC).
The OSC announced on Wednesday that Wesley Weber has been charged in connection with alleged breaches of securities law, including one count of trading without registration, one count of trading while prohibited, and one count of acting as a director or officer while prohibited.
Back in 2011, the OSC banned Weber from trading, registration, and from serving as an officer or director, for 15 years (along with other sanctions) after the OSC found that he violated the securities laws in Craigslist postings that promised “free day trading lessons” to individuals that deposited at least $300,000 into a trading account. An OSC hearing found that through the postings, Weber and his company, Goldbridge Financial Inc., were holding themselves out as investment advisers without being registered; that he misled commission staff during their investigation; and that he breached an earlier cease trade order.
The OSC doesn’t spell out the specifics of the new alleged violations, noting only that the charges are being filed following an investigation by its Joint Serious Offences Team (JSOT), which is an enforcement partnership between the OSC, the RCMP Financial Crime program and the OPP Anti-Rackets Branch.
These latest allegations have not been proven. The first court appearance in the case is scheduled for Dec. 4, at the Ontario Court of Justice in Toronto.