Toronto (January 16, 2020) – The Ontario Securities Commission (OSC) charged James Stuart Adams of Toronto with breaching a director and officer ban, which was imposed in a settlement agreement in March 2015. As part of the agreement, Adams admitted perpetrating investment fraud while he was president of A25 Gold Producers Corp. Now, the regulator alleges that Adams continued his role as an officer of Integral Transfer Agency Inc. (ITA).
The Ontario Securities Commission (OSC) accused James Stuart Adams of Toronto of breaching an OSC order, which was imposed in a settlement agreement in March 2015. The order banned him from serving as a director or officer of any issuer for five years. The regulator announced the charges in a press release on January 14.
Violating Ontario securities law
From 2007 to 2012, Adams was president of A25 Gold Producers Corp. (A25), a mining company that was incorporated in British Columbia and operated out of Toronto. Adams admitted in a settlement agreement with the OSC on March 5, 2015, that he violated Ontario securities law.
Moreover, Adams admitted conducting investment fraud while defrauding investors who purchased securities of A25. At the time, he illegally distributed and traded securities of A25 without being registered with the OSC. Consequently, part of the agreed settlement was sanctions including a ban from acting as a director or officer of an issuer.
Breaching OSC order
The OSC now alleges Adams of having continued his role as an officer of the company Integral Transfer Agency Inc. (ITA) which is a breach the OSC order. Furthermore, the commission described a connection between Adams and Vybe Networks Inc. (“Vybe”), BizToolz Network Inc. (“BizToolz”) and Excelsior Solutions Corporation (“Excelsior”).
The allegations have not been proven in court. Adams is scheduled to appear in the Ontario Court of Justice on February 5. Any investors who were solicited by Adams and/or representatives of ITA, Vybe, BizToolz and/or Excelsior should contact the OSC’s Contact Centre at 1-877-785-1555 (Toll Free) or firstname.lastname@example.org.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.