The Ontario Securities Commission (OSC) announced today that Marc and Helene Brunet of Chesterville, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT).
Mr. Brunet and Mrs. Brunet have both been charged with the following offences under the Securities Act: one count each of trading in securities without registration as required by section 25(1), and one count each of trading in securities without a prospectus as required by section 53(1). Mr. Brunet has also been charged with one count of fraud, contrary to section 126.1(1)(b) of the Securities Act.
These allegations relate to the sale of over $800,000 worth of securities in a company called MultiCast Networks Holdings Inc. (MCN) to Ontario investors between January 1, 2010 and December 31, 2016.
The OSC further alleges that a significant percentage of the money obtained was used by the Brunets for their personal benefit. The Brunets are scheduled to appear in court on this matter on March 12, 2018 at 8:30 a.m. in Courtroom #5 at the Ontario Court of Justice, 161 Elgin St., Ottawa, Ontario.