Judge gavel, scales of justice and law books in court
flynt/123RF

A Burlington, Ont. man has been charged with fraud in connection with an alleged illegal distribution that raised more than $1 million from investors following an investigation by the Ontario Securities Commission’s (OSC) Joint Serious Offences Team (JSOT), the OSC announced Friday.

Stan Pasyk has been charged with one count of fraud over $5,000 and one count of false prospectus, both under the Criminal Code.

The allegations have not been proven. Pasyk’s first court appearance in the case is scheduled for April 11 at the Ontario Court of Justice in Milton, Ont.

“These allegations relate to the sale of over $1,000,000 worth of securities in a company called A4 Diamonds Inc. to Ontario investors between March 8, 2011 and July 31, 2017,” the OSC says in a news release.

“A significant percentage of the money obtained was used by Mr. Pasyk for his personal benefit,” the OSC further alleges.

Investors who were solicited to invest in A4 Diamonds should contact the OSC, the regulator says.