How many years can the OSC go back to investigate fraud? My father was defrauded by a ponzi scheme 10 years ago.
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Our response:
The limitations period for a proceeding commenced under the Securities Act (Ontario) for securities fraud is 6 years from the date of the occurrence of the last event on which the proceeding is based. How the limitations period is determined can sometimes be a complex analysis, therefore, the OSC is always interested in hearing from anyone who has been defrauded. Among other things, the fraud could be ongoing and there may be opportunities to warn other investors – learn how to contact the OSC.
A legal professional should be consulted to determine the applicable limitations period for a lawsuit in the civil courts.