Statement of Allegations: In The Matter of Dowswell Investments et al.
R.S.O. 1990, c. S. 5, AS AMENDED (the "Act")
AND
IN THE MATTER OF DOWSWELL INVESTMENTS,
TIMOTHY DOWSWELL and ROSS DOWSWELL
STATEMENT OF ALLEGATIONS OF STAFF OF THE ONTARIO SECURITIES COMMISSION
1. The respondent Timothy Dowswell ("Dowswell") is an individual who carried on businessin his own name and/or in the name of a sole proprietorship known as Tim DowswellInvestments.
2. On February 15, 1999, in the Ontario Court (General Division), Dowswell was convictedof twelve offences contrary to the Criminal Code (Canada).
3. Eleven of the twelve convictions were on charges of fraud involving securities. Thetwelfth conviction was on a charge of uttering a forged document.
4. On ten of the eleven fraud convictions, and on the forgery conviction, Dowswell wassentenced to a term of imprisonment of three years, such sentences to run concurrently.On the remaining fraud conviction, Dowswell was sentenced to a term of imprisonment oftwo years, to run concurrently with the remaining sentences.
5. Dowswell's conduct was contrary to Ontario securities law, was contrary to the publicinterest, and ought to result in his being prohibited from trading in securities permanently.
6. Such other allegations as Staff may make and the Commission may permit.
DATED at Toronto, this 5th day of November, 1999.
R.S.O. 1990, c. S. 5, AS AMENDED (the "Act")
AND
IN THE MATTER OF DOWSWELL INVESTMENTS, TIMOTHY DOWSWELL and ROSS DOWSWELL
NOTICE OF HEARING
(Section 127 of the Act)
WHEREAS on the 10th day of October, 1995, the Ontario Securities Commission (the"Commission") ordered, pursuant to paragraph 127(1)2 and subsection 127(5) of the Act that tradingin any securities by Dowswell Investments, Timothy Dowswell and Ross Dowswell cease for a periodof fifteen days from the date of that order (the "Temporary Order");
TAKE NOTICE that the Ontario Securities Commission (the "Commission") will hold ahearing pursuant to section 127 of the Act at the Commission's offices on the 8th Floor, 20 QueenStreet West, Toronto, Ontario, commencing on Friday, the 20th day of October, 1995, at 10:00 a.m.,or as soon thereafter as the hearing can be held, to consider:
1) whether to extend the Temporary Order until this hearing is concluded;
2) whether it would be in the public interest to make an order under section 127 of the Act thattrading in any securities by Dowswell Investments, Timothy Dowswell and Ross Dowswellcease permanently or for such other period as is specified by the Commission; and
3) such further and other order as the Commission considers appropriate;
BY REASON OF the allegations set out in the Temporary Order and such additionalallegations as counsel may advise and the Commission may permit;
AND TAKE FURTHER NOTICE that any party to the proceedings may be representedby counsel if he or she attends or submits evidence at the hearing;
AND TAKE FURTHER NOTICE upon failure of any party to attend at the time and placeaforesaid, the hearing may proceed in the absence of that party and such party is not entitled to anyfurther notice of the proceeding.
October 11th, 1995.
"Daniel Iggers"