Shabina Ahmad given 30-month suspended sentence and banned from trading, advising, or selling securities
TORONTO , June 19, 2025 /CNW/ - The Ontario Securities Commission (OSC) announces that Ms. Shabina Ahmad has been given a 30-month suspended sentence, and probation for Possession of Property Obtained by Crime over $5000, contrary to s. 354(1)(a) of the Criminal Code. Ms. Ahmad is also banned from trading or acting to further a trade, advising on the purchase or sale of a security, or otherwise acquiring a security.
The matter 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. In addition to the probation order, Ms. Ahmad was ordered to pay restitution in the amount of $2500 to each to three separate victims, totaling $7500.
Ms. Ahmad pleaded guilty to the offence and acknowledged possessing funds from three investors. The investors were falsely led to believe that when they paid money to Ms. Ahmad's TD Bank account, they were purchasing Bitcoin from a company called 'CreditEUBank.' The investors did not receive the promised Bitcoin and lost all their money.
The OSC gratefully acknowledges the assistance and support of the Peel Regional Police in this joint investigation.
The OSC's Criminal Investigations and Prosecutions Team investigates quasi-criminal and criminal offences related to securities, including the investigation of alleged recidivists. Charges laid under the Securities Act are prosecuted by the OSC. Charges laid under the Criminal Code are prosecuted by the Ministry of the Attorney General.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.
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