OSC charges two individuals with securities act offences


The Ontario Securities Commission (OSC) has announced that Douglas DeBoer of Ancaster, Ontario and Leonard Lodder of Guelph, 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).

DeBoer has been charged with the following offences under the Securities Act: two counts of fraud, contrary to section 126.1(1)(b); two counts of trading in securities without registration as required by section 25(1); and two counts of trading in securities without a prospectus as required by section 53(1).

DeBoer’s charges relate to the sale of over $4 million US of securities in a company called Hockley Energy to investors, and the sale of over $3 million US of securities in a company called Rocky Point Energy to investors, between June 1, 2011 and December 31, 2013.

DeBoer has also been charged with two counts of trading in securities while prohibited by order of the Commission dated July 27, 2011, which is contrary to section 122(1)(c) of the Securities Act.

DeBoer continues to be subject to a cease trade order prohibiting him from trading in securities.

Lodder has been charged with the following offences under the Securities Act: one count of fraud, contrary to section 126.1(1)(b); one count of trading in securities without registration as required by section 25(1); and one count of trading in securities without a prospectus as required by section 53(1). Lodder’s charges relate to the sale of the securities in Hockley Energy.

DeBoer and Lodder are scheduled to appear in court on this matter on May 28, 2018 at 9:00 a.m. in Courtroom #204 at the Ontario Court of Justice, 45 Main St. E., Hamilton, Ontario.

To date, JSOT has pursued 41 matters involving 57 accused.

JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.

The OSC’s partnership with law enforcement allows for criminal charges to be laid by JSOT members, which include police officers seconded to the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.

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OSC charges two individuals with securities act offences

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