OSC v. Christopher Uitvlugt (ponzi schemes, 2022)

Judgment entered

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In April 2022 the Ontario Securities Commission began a reciprocal proceeding against Christopher Uitvlugt, who pleaded guilty to fraud for running the Next Level Capital Ponzi scheme, and on July 19, 2022 imposed permanent market bans.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

—

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

Uitvlugt pleaded guilty in the Ontario Superior Court to fraud and admitted that he took funds from new investors to pay returns to earlier ones; the allegations add that he spent investor money on luxury cars and that his forex trading lost about five thousand dollars.

The adjudicator's order of July 19, 2022 bans him permanently from trading, acquiring securities, relying on exemptions, serving as a director or officer, and acting as a registrant or promoter. The record showed the matter only as filed.

This library tags the matter as ponzi schemes because the tribunal or the court it relies on describes money from later investors being used to pay earlier ones. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Ponzi schemes — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2022-04-26 Statement of Allegations
2. 2022-04-27 Notice of Hearing
3. 2022-07-19 Reasons and Decision

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• Tribunal proceeding
• Statement of Allegations
• Notice of Hearing
• Reasons and Decision

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.