OSC v. Paul Camillo Dinardo (ponzi schemes, 2015)

Judgment entered

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In August 2015 the Ontario Securities Commission began a reciprocal proceeding against Paul DiNardo, convicted of fraud over investment schemes that drew about $13 million from some 160 people and of defrauding his elderly physician, and on January 25, 2016 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

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Alleged gain

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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

DiNardo was convicted in the Ontario Superior Court on February 27, 2015 of five Criminal Code counts, two of them fraud over $5,000. The commission found the investment schemes were Ponzi schemes: funds were not invested as promised and interest paid to some investors came from other investors' money.

The order of January 25, 2016 bans him permanently from trading, acquiring securities, relying on exemptions, serving as a director or officer, and acting as a registrant, fund manager 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. 2015-08-17 Statement of Allegations
2. 2015-08-20 Notice of Hearing
3. 2015-09-09 Reasons and Decision
4. 2016-01-25 Reasons and Decision
5. 2016-01-25 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
• Reasons and Decision
• 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.