(November 15 – 16:50 ET) – The Ontario Securities Commission has issued an order permanently prohibiting Timothy Dowswell from trading in securities.
The Commission originally issued a temporary ceasetrading order on October 10, 1995, against Timothy Dowswell, and against his father Ross Dowswell, both of Sarnia.
On February 15, 1999, Timothy Dowswell was convicted of twelve charges under the Criminal Code. Eleven of the twelve charges were of fraud involving securities, in an amount totalling over $1.75 million. Dowswell was sentenced to three years’ imprisonment on ten of the eleven fraud charges, and to two years’ imprisonment on the eleventh charge. The twelfth conviction was for uttering a forged document, and resulted in a term of imprisonment of three years. All of the sentences are to run concurrently.
At the time of the conduct that was the subject of the criminal charges, Dowswell was not registered under the Securities Act. At a hearing on November 15, 1999, the Commission ordered that Timothy Dowswell – who also carried on business as Tim Dowswell Investments – cease trading in securities permanently.
The Commission terminated the cease trading order that had previously existed against Ross Dowswell who carried on business as Dowswell Investments.
-IE Staff
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