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Alert Details
This business has 2 alerts.
Out-of-Business known or suspected
According to information in BBB files, this business is no longer in business.
Government Action: BBB reports on known government actions involving business’ marketplace conduct:
Ontario Securities Commission vs Stephane Gagnon
On October 13, 2021 the Ontario Securities Commission (OSC) announced that Stephane Gagnon, formerly of Ottawa, Ontario has been charged with two offences under the Criminal Code of Canada.
Mr. Gagnon has been charged with one count of fraud over $5,000 contrary to Section 380(1)(a), and one count of using a forged document as if it were genuine contrary to Section 368(1).
The charges are in relation to Mr. Gagnon’s role as the sole officer and director of 8565287 Canada Inc., which also operated under the following business names: The Finance Company, Unlock My RSP, SMAP Financial Service, and The Loan Shop.
The OSC alleges that from November 1, 2015 to May 31, 2021, Mr. Gagnon collected more than $20 million from investors across Canada, by promising them immediate access to their locked-in retirement savings accounts. Mr. Gagnon instead used a significant percentage of investor funds for personal expenses, resulting in many investors not receiving the funds they were owed.
A warrant for Mr. Gagnon’s arrest has been issued.
Any investors who were solicited by Mr. Gagnon or who invested in 8565287 Canada Inc. should contact the OSC’s Contact Centre at 1-877-785-1555 (Toll Free) or [email protected].
Information can be found on the following link:https://www.osc.ca/en/news-events/news/osc-charges-stephane-gagnon-criminal-fraud-offences
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