Aggregated News From Investment Management Regulators

MSC Seeking Manitoba Investors to Receive Forfeited Funds

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The Manitoba Securities Commission (MSC) is issuing an appeal to locate Manitoban investors harmed by an investment fraud in Ontario that took place between August 2007 and May 2008.

Via Ontario’s Civil Forfeiture Program (CFP), harmed investors are entitled to a portion of approximately $350,000 forfeited from the result of the fraud.

Ontario’s Ministry of the Attorney General has made efforts to contact all aggrieved parties, but has been unable to locate one or more Manitobans entitled to compensation.

Please refer to the notice below for more information:

 MINISTRY OF THE ATTORNEY GENERAL

Civil Forfeiture Program (CFP)

Statutory Notice 656-21 made under Ontario Regulation 498/06

ATTORNEY GENERAL OF ONTARIO

– and –

$350,086.58 in Canadian Currency (in rem) or Funds Associated with Goldpoint Resources Corporation, Pasqualino Novielli, Zaida Pimentel, Brian Moloney and 1112086 Ontario Inc. (in rem)

This notice relates to funds forfeited from investment fraud activities that occurred between August 2007-May 2008.

This proceeding, commenced under the Civil Remedies Act, 2001, has resulted in the sum of $350,086.58 being deposited into a special purpose account.

All individuals or other persons who have suffered pecuniary or non-pecuniary losses (money or non-money damages) as a result of the unlawful activity that was the subject of the forfeiture proceeding are entitled to make a claim for compensation.

The Crown, a municipal corporation or a public body that is a member of one of the classes of public bodies prescribed in the regulation that suffered pecuniary losses as a result of the unlawful activity that are expenses incurred in remedying the effects of the unlawful activity are also entitled to make a claim for compensation.

All claims must comply with section 6 of Ontario Regulation 498/06 or they will be denied. Regulation 498/06 may be found at:

http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_060498_e.htm.

For general information on civil forfeiture and soft copies of claims package documents, visit: https://www.ontario.ca/page/compensation-victims.

If you have questions regarding entitlement to compensation, or the claims package, email us at [email protected]; call us toll free at 1-888-246-5359; Fax to 416-326-1780
or write to:

 Civil Forfeiture Program

Ministry of the Attorney General

18 King St E, 7th Floor

Toronto, ON, CANADA M5C 1C4

All completed claims must refer to Notice 656-21 and be received by CFP no later than 5:00 PM EST on MAY 3, 2021, or they will not be considered. Completed claims may be submitted either in writing to the above address or electronically to the above e-mail account or via fax.

You may not be eligible for compensation if you took part in the unlawful activity giving rise to the forfeiture proceeding. Even if you are eligible for compensation, your claim may be denied if you are unable to provide proof of your claim.

The Manitoba Securities Commission is a division of the Manitoba Financial Services Agency, a Special Operating Agency of the Government of Manitoba that protects investors and promotes fair and efficient capital markets throughout the province.           

This news item was originally published by the Manitoba Securities Commission (MSC CA). For more information, please see the Source Link.

Regulator Information

Abbreviation: MSC
Jurisdiction: Canada

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