The Ontario Securities Commission announced that Shabina Ahmad has received a 30-month suspended sentence and probation after pleading guilty to possession of property obtained by crime over CAD 5,000, and is also banned from trading or acting to further a trade, advising on securities transactions, or otherwise acquiring securities. The case was prosecuted by the Peel Crown Attorney’s Office following a joint investigation by the OSC’s Criminal Investigations and Prosecution Team and the Peel Regional Police. Ahmad was ordered to pay restitution of CAD 2,500 to each of three victims, totalling CAD 7,500, after acknowledging she possessed funds from three investors who were told they were purchasing bitcoin from a firm called CreditEUBank by paying money into her TD Bank account; the investors did not receive the promised bitcoin and lost their money.
Ontario Securities Commission 2025-06-19
Ontario Securities Commission announces criminal sentencing and securities trading and advising ban for Shabina Ahmad over alleged bitcoin fraud
The Ontario Securities Commission announced that Shabina Ahmad received a 30-month suspended sentence and probation for possession of property obtained by crime over CAD 5,000. Ahmad is banned from trading, advising on securities, or acquiring securities, and must pay CAD 7,500 in restitution to three victims. The case involved a joint investigation by the OSC and Peel Regional Police.