20 Queen St. W.
Toronto, ON M5H 3S8
|FOR IMMEDIATE RELEASE
November 26, 2015
Sydney Klein and Charles Joseph Makuto Charged Criminally with Fraud Under $5000
TORONTO – The Ontario Securities Commission (OSC) announced today that Sydney Klein of Vaughan, Ontario and Charles Joseph Makuto of Pefferlaw, Ontario have been charged with alleged breaches of the Criminal Code of Canada (Criminal Code) following an investigation by the OSC’s Joint Serious Offences Team (JSOT).
Klein and Makuto have each been charged with one count of fraud under $5000, contrary to Section 380 (1)(b) of the Criminal Code.
A JSOT search warrant was executed in April 2015 on an alleged boiler room operation known as Dorchester International Group Inc. in Markham, Ontario. It is alleged that Klein and Makuto used dormant shareholder lists to make fraudulent solicitations to investors by telephone. Victims were falsely told their worthless penny stock holdings may have future value and were solicited to purchase portfolio research reports that were of no value.
Klein and Makuto are scheduled to appear in court on this matter on December 17, 2015 at 10:30 a.m. in Courtroom #205 at the Ontario Court of Justice, 50 Eagle Street West, Newmarket, Ontario.JSOT was established by the OSC as an enforcement partnership between the OSC, the Royal Canadian Mounted Police Financial Crime program and the Ontario Provincial Police Anti-Rackets Branch. The primary objective of JSOT is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. This is accomplished through collaborative investigations of serious violations of the law using the provisions of the Securities Act or the Criminal Code.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets and confidence in the capital markets. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca
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