The Ontario Securities Commission announced enforcement allegations against Daniel St-Jean and his companies AETOS Green Energy DSJ Inc., 7120761 Canada Inc., and 8795436 Canada Inc., alleging prospectus and registration breaches tied to capital raised from investors and an alleged fraud involving investor funds. The allegations cover conduct between January 21, 2020 and November 3, 2023, during which Mr. St-Jean allegedly raised at least $33 million from over 250 investors by selling investment agreements for real estate and other projects in violation of prospectus requirements. The OSC also alleges he traded securities related to a residential development project in Hantsport, Nova Scotia without proper registration, misused at least $5.5 million of investor funds through AETOS intended for that development, and unlawfully disclosed confidential information to third parties during an OSC investigation in breach of section 16 of the Securities Act. A case management hearing before the Capital Markets Tribunal is scheduled for September 30, 2025 at 10:00 a.m. ET.
Ontario Securities Commission 2025-09-04
Ontario Securities Commission alleges Daniel St-Jean raised at least $33 million through unregistered offerings and misused at least $5.5 million of investor funds
The Ontario Securities Commission has filed enforcement allegations against Daniel St-Jean and his companies for prospectus and registration breaches, involving $33 million raised from over 250 investors. Allegations include misuse of $5.5 million in investor funds and unlawful disclosure of confidential information during an investigation. A case management hearing is set for September 30, 2025.