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Ontario’s securities regulator hears closing submissions against Garth Drabinsky

Ontario’s securities regulator is hearing closing submissions today in the case against Garth Drabinsky for his role in the Livent Entertainment fraud scandal nearly two decades ago.

Drabinsky, 67, was found guilty of two counts of fraud in 2009 and sentenced to a five-year prison term for manipulating company financial statements and orchestrating a kickback scheme that cost investors an estimated $500 million.

A tribunal of the Ontario Securities Commission is deciding today whether to mete out regulatory penalties.

Read more at Inside Toronto

This article is summarized by Canadian Fraud News Inc.