Three men face charges under the Securities Act, regulator alleges significant amount of money used for unrelated purposes
(Press release) -
The Ontario Securities Commission (OSC) announced today that Nathanael Anthony Aikman, who currently resides in Coquitlam, British Columbia, and Syed Saad Aziz and Jazib Ali Khan, both from the Toronto, Ontario area, have been charged with offences under the Securities Act (Ontario).
Mr. Aikman was charged with the following offences under the Securities Act: one count of trading securities without registration, one count of trading in securities without a prospectus, and one count of fraud.
Mr. Aziz and Mr. Khan have each been charged with one count of trading securities without registration and one count of trading in securities without a prospectus.
These allegations relate to Yonge Street Capital LLC (YSC), a purported hedge fund established by the three accused. Between October 27, 2016 and August 30, 2019, 71 individuals invested more than $6.2 million in YSC. The OSC alleges that a significant percentage of the money obtained by this alleged fraud was used by Mr. Aikman for purposes unrelated to YSC’s business, and to the detriment of investors.
The accused are scheduled to appear in court on this matter on January 18, 2021 at 11:00 a.m. in Courtroom #112 at Old City Hall Provincial Court, 60 Queen Street West, Toronto, Ontario.
Any investors who were solicited or who invested in YSC should contact the OSC’s Contact Centre at 1-877-785-1555 (Toll Free) or [email protected].
