Seemingly extra procedural than something at this stage, the Ontario Securities Fee is searching for an order that will completely ban USI-Tech.
The order was requested through a “Assertion of Allegations”, filed on December 4th.
Allegations in the assertion mirror that of the securities fraud stop and desist Ontario issued USI-Tech again in February.
The stop and desist was adopted by a findings on legal responsibility held by the AMF, who regulate securities in Quebec.
The AMF Tribunal discovered that USI-Tech was partaking in an ongoing unlawful distribution of securities and unregistered dealing, opposite to sections … of the Quebec Securities Act.
The AMF completely banned USI-Tech in Quebec in late March.
The Ontario Securities Fee is actually now searching for an identical order for Ontario.
A listening to has been scheduled though the date has not been made public.
In any occasion it’s unlikely anybody from USI-Tech will present as much as defend the corporate.
USI-Tech collapsed in January 2018, a couple of weeks after Texas issued it with its personal securities fraud stop and desist.
The Ponzi scheme formally dropped its cryptocurrency mining charade in late October.
Final we heard the principal recipients of USI-Tech investor funds, homeowners Joao Severino, Horst Jicha and Ralf Gold, had been residing in luxurious residences and driving round in Lamborghinis.
Past issuing stop and desist notices, up to now authorities within the US, Europe and Canada haven’t publicly taken any additional motion in opposition to USI-Tech.
Replace sixteenth January 2019 – As per a January fifteenth order, the Ontario Securities Fee has completely banned USI-Tech in relation to securities fraud.