In that article, CTV reported that “The case was up for a hearing before the Ontario Securities Commission last week, which last year brought a civil enforcement action against Josh Cartu and his brothers Jonathan Cartu and David Cartu, claiming they illegally sold binary options to about 700 Ontario investors.”
Investigation Counsel PC, a fraud recovery law firm in Toronto, has made inquiries with the OSC regarding the hearing that took place last week. Whatever hearing took place, it is not reported on the OSC website. All publications by the OSC regarding Cartu can be found here.
What the OSC has published is that it entered into a settlement with Josh Cartu and his brothers in May 2021. As part of that settlement, Josh Cartu and his brothers agreed to pay a $300,000 penalty and $15,000 in investigation costs.
According to Investigation Counsel PC, this is a pretty lenient resolution for Josh Cartu and his brothers. Whatever prosecutions are taking place in the US and other jurisdictions are likely to be far more serious. A copy of the May 2021 ‘Reasons for Approval of Settlement’ between Josh Cartu and the OSC is available here.
Anyone who wishes to report information on a confidential basis related to Josh Cartu or his brothers may contact Daina Slenys of Investigation Counsel at firstname.lastname@example.org .