11 iulie 2018

OSC orders Sino-Forest executives to pay more than $81-million in penalties


The Ontario Securities Commission has imposed one of the largest penalties in its history in the fraud case involving failed timber company Sino-Forest Corp., ordering five former executives to make payments totalling more than $81-million. Founder and chief executive Allen Chan was ordered to pay $67-million of the total himself, including a $5-million administrative penalty and $2-million in investigation and hearing costs. Most of Mr. Chan’s penalty came from an order to “disgorge” [...]