JSOT charges Montreal fraudster with several breaches of the Securities Act

JSOT charges Montreal fraudster with several breaches of the Securities Act

JSOT charges Montreal fraudster with several breaches of the Securities Act Career criminal Michael Mitton is in hot water once more, this time with the Joint Serious Offences Team, who’ve charged the Montreal man with two counts of unregistered trading.

The first count is trading without registration contrary to section 25(1) of the Securities Act. The second count is for trading in securities while prohibited from doing so by order of the Commission dated December 9, 2011.

This isn’t the first, or even the second time, that Mitten has crossed paths with regulatory bodies. The 2011 order is a result of a 2007 criminal conviction where Mitton pled guilty to criminal charges of market manipulation and money laundering, was given a seven-year jail sentence and ordered to make restitution of USD$2.6 million.

According to the OSC, Mitton’s been convicted of over 100 charges since 1977. Fraud, forgery, false pretences, money laundering and related conspiracies are amongst the convictions Mitton has racked up over the years.

With so many convictions you’d think regulators would be able to stop the career criminal from continuing to play the confidence game.

But like Frank Abagnale, Jr., the protagonist in the book and subsequent movie, Catch Me If You Can, it’s not easy putting an end to the illegal activities of con men like Mitton and Abagnale.

Is this the final chapter in Mitton’s criminal history? The JSOT certainly hopes so.