The Ontario Securities Commission announced that Jimmy Delinis, formerly of Alliston, Ontario, has pleaded guilty to fraud under Ontario securities law in connection with Azura Futures and Currencies. Between October 2021 and July 2024, he raised about CAD 1.3 million from 15 investors in Canada and the United States, and most investors lost their entire investment. Investor statements typically portrayed the fund as highly successful, often claiming returns at least 10% above major stock market indexes. In reality, about 81% of the money deposited into Azura's trading account was lost through option trading, some investors had already lost their money before receiving a first monthly statement, and some investor funds were used to repay other investors. Delinis is scheduled to be sentenced on October 15, 2026 at the Ontario Court of Justice in Collingwood.
Ontario Securities Commission 2026-05-01
Ontario Securities Commission announces Jimmy Delinis guilty plea over CAD 1.3 million Azura fund fraud
The Ontario Securities Commission announced that Jimmy Delinis pleaded guilty to fraud under Ontario securities law in relation to Azura Futures and Currencies, after raising about CAD 1.3 million from 15 investors in Canada and the United States between October 2021 and July 2024, most of whom lost their entire investment. Investor statements falsely portrayed the fund as significantly outperforming major stock market indexes, while about 81% of deposited funds were lost through option trading and some investor money was used to repay others.