From @troy_james1 via Instagram
Enforcement proceedings in the Ontario Securities Commission case against Troy Hogg – the former owner of the Colonial Inn and Gables in Grand Bend – continue this week. Reports say the OSC’s Capital Markets Tribunal denied an earlier request by Hogg to postpone the hearings, while he seeks new legal representation.
The OSC alleges Hogg and business concerns he was associated with – defrauded investors of tens of millions of dollars U.S. through a crypto-currency offering – over a two year period beginning in May 2017. Hogg is also facing civil proceedings in the United States.
As part of the Canadian investigation, the OSC has seized and sold some of Hogg’s assets including the Colonial Hotel.
Among the allegations in the OSC case against Hogg, is committing fraud. Several media reports cite Commission claims of a crypto-currency called Dignity, being offered to investors who were told it was backed by “real gold.” It’s also alleged investor money was used to buy luxury boats and property.
Written by: B. Shakyaver