OSC v. TransCap Corporation and others (ponzi schemes, 2013)

Judgment entered

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In November 2013 the Ontario Securities Commission began a reciprocal proceeding against Transcap Corporation, Strata-Trade Corporation and two individuals after an Alberta panel found they ran an unsustainable Ponzi scheme, and on February 19, 2014 imposed 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

The Alberta Securities Commission found that the companies earned little or nothing from the bond trading and bridge financing they described and that returns to investors were paid from their own and fellow investors' money, calling it an unsustainable Ponzi scheme that caused significant direct harm.

After a written hearing the Ontario order of February 19, 2014 reciprocates the market conduct restrictions against the companies, Dale St. Jean and Gregory Tindall, including permanent director and officer bans for Tindall. The record showed the outcome as unknown.

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. 2013-11-21 Notice of Hearing
2. 2013-11-21 Statement of Allegations
3. 2013-12-12 Reasons and Decision
4. 2014-02-19 Reasons and Decision
5. 2014-02-19 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
• Notice of Hearing
• Statement of Allegations
• 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.