OSC charges Ira Morris and Ronald Kopman with Securities Act Offences
TORONTO, June 25, 2021 /CNW/ - The Ontario Securities Commission (OSC) announced that Ira Howard Morris and Ronald Kopman, both of Richmond Hill, Ontario, have been charged with offences under the Securities Act (Ontario).
Mr. Morris and Mr. Kopman have each been charged quasi-criminally with one count of fraud and one count of trading securities without registration.
These allegations relate to companies that were owned by Mr. Morris and Mr. Kopman, including Nextgen Asset Management Inc., Sovereign Management Group Corp., and Sovereign Marketing Enterprises Inc. The OSC alleges that between February 25, 2016 and August 31, 2020, 31 individuals invested approximately $2 million in Mr. Morris and Mr. Kopman's companies under the promise that their funds would be used to trade options and forex. The OSC further alleges that the funds were not used in accordance with the investors' understanding of their investment. Instead, most of the funds were diverted to the benefit of Morris, Kopman and their associates.
The accused are scheduled to appear in court on this matter on August 11, 2021 at 11:00 a.m. in Courtroom #112 at Old City Hall Provincial Court, 60 Queen Street West, Toronto, ON.
Any investors who were solicited or who invested with Mr. Morris and Mr. Kopman or one of their companies should contact the OSC's Contact Centre at 1-877-785-1555 (Toll Free) or [email protected].
This investigation was conducted by a team within the OSC Enforcement branch that investigates quasi-criminal and criminal offences related to securities, including the investigation of alleged recidivists. Their primary objective is to protect investors and further enhance confidence in the Canadian capital markets through effective enforcement. To date, this team has pursued 51 quasi-criminal and criminal matters involving 75 accused.
Charges laid under the Securities Act (quasi-criminal) are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. 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.ca.
SOURCE Ontario Securities Commission
For Media Inquiries: [email protected]; For Investor and Industry Inquiries: 1-877-785-1555 (Toll Free), [email protected]
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