A Stoney Creek woman has been found guilty of violating the securities act while under the thumb of her romantic partner – a convicted fraudster himself – the OSC announced Monday.
Sandy McCarthy was accused of having "acquiesced in a fraud” of BFM Industries Inc. and Liquid Gold International Inc., where she once held positions as director and officer at both companies.
Under the direction of her boyfriend, Sandy Winick – the mastermind behind the fraud, illegal distributions and unregistered trading that took place at BFM (an organic fresh fish liquid fertilizer company) and Liquid Gold (an oil and hydrocarbon recovery business, with no official employees) – McCarthy incorporated the companies, communicated with investors and withdrew funds from the corporate accounts, according to the OSC.
McCarthy has been found guilty of illegally distributing securities and trading without registration. In addition, the commission discovered that payments to credit cards and companies controlled by Winick were made from Liquid Gold and BFM accounts. (Continued on Page 2)