-
OSC bars convicted fraudster from financial sector for life
The Ontario Securities Commission has imposed permanent bans on mutual fund salesman Paul Yoannou after he was sentenced to six years in jail for fraud, ruling he cannot work in the financial sector or trade securities in Ontario. Mr. Yoannou, a former salesman at Investors Group Financial Services Inc., has been barred from the financial industry on the basis of his 2013 guilty plea on accusations that he took $6.6-million from investors – many of them senior citizens – and put the money in his own bank account. Mr. Yoannou admitted at his 2013 trial that he told clients their money was being invested in ... (full story)