The Ontario Securities Commission (OSC) announced that Sejean Reid and Whitney Charles have each been charged under the Criminal Code with fraud over CAD 5,000 and laundering proceeds of crime, following an OSC investigation into an alleged investment scheme operating as Golden Zone Corporation. The OSC alleges the pair ran the scheme between December 2021 and December 2023, telling investors their funds were being professionally traded on well-known platforms, were protected, and would earn weekly returns of 5–9%. About CAD 4 million was collected, with only a small amount used for real trading and most funds allegedly used to pay earlier investors or for the personal use of Reid or Charles. The investigation was conducted by the OSC’s Criminal Investigations & Prosecutions team, with assistance from Halton Regional Police Services and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Reid and Charles were arrested on April 21, 2026 and released on undertakings, and are scheduled to appear in the Ontario Court of Justice on July 17, 2026.
Financial Transactions and Reports Analysis Centre of Canada 2026-04-22
Ontario Securities Commission lays Criminal Code fraud and money laundering charges over alleged Golden Zone investment scheme
The Ontario Securities Commission announced that, following an investigation supported by the Financial Transactions and Reports Analysis Centre of Canada, Sejean Reid and Whitney Charles have been charged under the Criminal Code with fraud over CAD 5,000 and laundering proceeds of crime in relation to an alleged investment scheme, Golden Zone Corporation. The OSC alleges they raised about CAD 4 million from investors between December 2021 and December 2023, falsely promising professional trading with weekly returns of 5–9%, and instead used most of the money to pay earlier investors or for personal use.