The Ontario Securities Commission announced fraud allegations against Jason Cloth and Creative Wealth Media Finance Corp. in connection with an investment offering presented as lending to film, television and animation producers. The OSC alleges the respondents raised over $500 million from investors and diverted at least $70 million for unauthorized purposes, and that Creative Wealth later collapsed into bankruptcy. According to the allegations, funds were raised from investors across Ontario, Canada and the U.S. and were diverted to uses including a real estate development and other projects, as well as to repay existing investors. A case management hearing before the Capital Markets Tribunal is scheduled for April 4 at 10:00 a.m., and the application for enforcement proceedings is available on the Tribunal’s website.
Ontario Securities Commission 2025-03-04
Ontario Securities Commission brings fraud allegations against Jason Cloth and Creative Wealth Media Finance after $500 million investor raise
The Ontario Securities Commission has filed fraud allegations against Jason Cloth and Creative Wealth Media Finance Corp. related to an investment offering for lending to film and television producers. The OSC claims over $500 million was raised, with at least $70 million misappropriated for unauthorized uses, leading to Creative Wealth's bankruptcy. Funds were allegedly diverted to real estate and other projects, and to repay existing investors.