OSC issues alert about convicted fraudsterBy The IJ Staff | July 22 2019 09:30AM
The Ontario Securities Commission (OSC) has issued a warning to Ontario investors not to invest with Neil Suresh Chandran.
Chandran is permanently banned from trading securities in Ontario, and has been convicted of securities fraud in the United States. Despite this ban, he has been actively soliciting Ontario investors, says the regulator.
Chandran and his company, Sungame Corp. were convicted of grand larceny and securities fraud in New York State in connection with a scheme to defraud investors through a 3D computer tablet business.
In 2015, the Alberta Securities Commission (ASC) imposed a number of bans against Chandran and his companies Energy TV Inc., Chandran Holding Media, Inc. (also known as Chandran Holdings & Media Inc.) and Chandran Media, for engaging in unregistered trading and illegal distributions of securities.
In 2016, the OSC issued a reciprocal order based on the ASC proceedings. Ontario investors who have been solicited by Chandran or his representatives are urged to contact the OSC Contact Centre at 1-877-785-1555 or [email protected].