Justice Sheila Ray of the Ontario Court of Justice Friday sentenced Abel Da Silva to nine months in jail for trading in securities of Moncasa Capital Corporation without registration, and trading in securities without a prospectus and to nine months for breaching three separate Ontario Securities Commission cease trade orders.
Da Silva used the alias “Jim Wilson” to trade in securities of Moncasa.
In a previous matter, another Ontario judge sentenced Da Silva in November 2011 to a total of 27 months in jail for fraud, trading in securities without registration and trading in securities without a prospectus involving shares of Shallow Oil and Gas Inc.
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The sentence imposed Friday will run concurrent to the sentence that Da Silva is serving in the Shallow Oil matter.
“The OSC takes violations of our cease trade orders seriously and we will continue to pursue offenders through the court system,” said Tom Atkinson, OSC director, enforcement, in a release.