Ontario Securities Commission sets out charges against Sergiy Kaspirovych

TORONTO – The Ontario Securities Commission (OSC) announced today that Sergiy Kaspirovych, of Toronto, Ontario was charged on January 30, 2025 with making a false statement to the OSC under the Securities Act (Ontario).

The OSC alleges that between March 16, 2023, and April 1, 2023, Kaspirovych provided forged criminal record checks from two police agencies to the OSC in support of his application to register as a scholarship plan dealing representative.

Kaspirovych is being charged with one count of making a false statement by submitting information to the OSC that, in a material respect and at the time and in the light of the circumstances under which it is made, was misleading or untrue or did not state a fact that was required to be stated or that was necessary to make the statement not misleading, contrary to section 122(1)(a) of the Securities Act.

The accused is scheduled to appear in court on this matter on February 27, 2025, at 2:00 p.m. in Courtroom 202 at 10 Armoury Street in Toronto, Ontario.

This investigation was conducted by a team within the OSC Enforcement Division that investigates quasi-criminal and criminal offences related to securities, including the investigation of alleged recidivists. The OSC would like to acknowledge the valuable assistance received from Toronto Police Service and the Royal Canadian Mounted Police in this investigation.

Charges laid under the Securities Act  are prosecuted by the OSC. Charges laid under the Criminal Code  are prosecuted by the Ministry of the Attorney General.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.

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