Regulators in Ontario have permanently cease traded a pair of men and two companies that carried out an unregistered distribution in British Columbia, reciprocating an order of the B.C. Securities Commission (BCSC).

The Ontario Securities Commission (OSC) has permanently cease trading Theodore Robert Everett, Robert Duke, Micron Systems Inc., and Micron subsidiary, IAC – Independent Academies Canada Inc., the commission announced on Monday.

The cease trade orders are based decisions from the BCSC, which found that IAC, Everett and Duke raised $5.1 million from 126 investors without filing a prospectus; Micron, Everett and Duke contravened an earlier cease-trade order issued by the BCSC; and the four respondents perpetrated a fraud.

See: B.C. fraud case draws $11 million in penalties

In July 2014, the BCSC permanently banned the men and the companies, ordered that they pay $5.4 million in disgorgement, and it hit Everett and Duke with a $7 million administrative penalty.

The OSC reciprocated then market ban on the four, stating in its decision, it was “satisfied that, if the same events had occurred in Ontario, they would have constituted breaches of the Act and would have been contrary to the public interest.”