Superior Court of Justice allows the Ontario Securities Commission's Sentence Appeal in the Matter of Abel Da Silva

Jan 16, 2013, 10:10 ET from Ontario Securities Commission

TORONTO, Jan. 16, 2013 /CNW/ - In its reasons dated January 15, 2013, the Superior Court of Justice allowed a sentence appeal by the Ontario Securities Commission and imposed an order that Abel Da Silva serve an 18 month jail sentence consecutively to a previous 27 month sentence.

On March 30, 2012, Da Silva was sentenced in the Ontario Court of Justice to 18 months in jail for trading in securities without registration and for breaching three separate Commission orders.  At that time, the sentence was ordered to be served concurrently to the sentence of 27 months in jail imposed on Da Silva in November 2011 by the Ontario Court of Justice in the Shallow Oil matter.

The Commission appealed the 18 months concurrent sentence and sought an 18 month consecutive sentence. The Superior Court found the concurrent sentence imposed on Da Silva was unfit and found that a total sentence of 45 months was not disproportionate to the gravity of the offences.

A copy of the Reasons for Judgment can be obtained from the Superior Court.

SOURCE Ontario Securities Commission