Woman gets two-year jail term for securities fraud

Woman gets two-year jail term for securities fraud

Woman gets two-year jail term for securities fraud

A Waterloo woman has been jailed for a second time after being found guilty of fraud and three other violations of the Securities Act.

Michelle Dunk was sentenced to two years less a day by Justice Sopinka of the Ontario Court of Justice in Kitchener after a trial that followed an investigation by the Ontario Securities Commission’s Joint Serious Offences Team.

Dunk’s conviction relates to sales of promissory notes for Rocky Point Energy and Hockley Energy Inc securities to four people investors. She was ordered to pay a total of $158,435 in restitution to these investors.

In handing down the sentence, Justice Sopinka said:  “Ms Dunk's actions were motivated solely by financial gain without regard for the path of destruction she caused to the financial stability of the individuals she solicited.”

Dunk remains subject to an OSC order imposed on January 6, 2015, which prohibits her from engaging in the business of trading or selling securities.

The Waterloo Region Record reported after the guilty verdict that Dunk was a former motivational speaker, with one of the defrauded a long-time friend.

Frances Boychuk lost $38,000, while her mother put in $50,000 and her cousin $20,000. Another man invested $50,000. None of the four got a cent in return.

Two years ago, Dunk, was sentenced to 75 days in prison on weekends after pleading guilty to unregistered trading and breaching an order by the OSC. Just months after this she was charged with the latest offences, which occurred between 2012 and 2016.

Before the charges, Dunk was a celebrated community member and was awarded an Ontario Citizen of the Year award for community service in 1995.

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