British fraudster gets jail time in Ontario

The OSC said the convictions stemmed from a “complex international fraud scheme” targeting Ontario investors and coordinated by Seville (which also used the aliases James Davies and Martin Schwartz).

According to the regulator, Seville and an accomplice solicited investors for a currency exchange system called Trans-Atlantic Direct (TAD) through radio ads.

“About 100 Ontario investors from communities across the province have invested more than $ 6 million in TAD, but an investigation revealed that no foreign exchange transaction had ever taken place. The funds invested were used by Mr. Sevilla and his accomplice to support their way of life, ”the regulator said in a statement.

Many of the victims of the scheme were seniors, the OSC also noted, and some of them lost significant sums.

The conviction and conviction follow Seville’s extradition from the UK in October.

An arrest warrant for him was issued in Canada in December 2019, and he was finally apprehended in the UK in October 2020.

“Today’s sentence recognizes the significance of Mr. Sevilla’s crimes, which have had a devastating impact on Ontario investors, many of whom were elderly or vulnerable,” said Jeff Kehoe, Director of Law Enforcement to the OSC, in a press release.

“The OSC will continue to use all available investigative tools, working with our law enforcement partners, to protect Ontario investors and hold the fraudsters who target them accountable,” said Kehoe. “This result sends a clear message that those plotting to defraud Ontario investors cannot hide behind international borders.”


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