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OFFENCES AND ENFORCEMENT - Commission orders in the public interest - Powers of Commission - Disgorgement

Monday, July 10, 2017 @ 11:41 AM  

Appeals by the defendants from disgorgement orders made against them by the Securities Commission under s. 161(1)(g) of the Securities Act (Act). The Commission found that the Poonians and the Sihotas contravened the market manipulation provision of the Act and that Lathigee and Pasquill committed fraud through fraudulent offerings. The Commission found as a fact that Lathigee and Pasquill had jointly directed and controlled the relevant corporate entities that obtained the money. The Commission ordered the appellants to disgorge the profits on a joint and several...