An Ontario man convicted of various trading-related offences has now been ordered to spend 15 months in jail.
The Ontario Securities Commission (OSC) announced on Wednesday that Vernon Smith of Barrie, Ont. was sentenced to 15 months in jail and one year of probation by Justice John Moore at the Ontario Court of Justice in Toronto.
Last December, Smith was convicted on two counts of unregistered trading, one count of unregistered advising, and four counts of breaching cease trade orders imposed by the OSC.
“The convictions relate to Mr. Smith’s role in seeking a listing on a European exchange for the securities of Telecorp Inc. and Ticker Communications Inc.,” the OSC says in its announcement.
Smith was charged after an investigation by the OSC’s Joint Serious Offences Team (JSOT), which represents an enforcement partnership between the OSC, the RCMP and the OPP.