TORONTO, April 1, 2026 /CNW/ – On March 27, 2026, the Ontario Securities Commission (OSC) announced fraud allegations against SponsorsOne Brands Inc. (SPO), Gary Bartholomew and Myles Bartholomew (together, the Bartholomews). The OSC alleges SPO and the Bartholomews misused the consultant exemption to the prospectus requirement to illegally distribute shares and commit securities fraud. It is further alleged that WestCan Energy Ltd. (WestCan), a purported consultant, and Mr. John Cameron Cunningham (principal and directing mind of Westcan), participated in the illegal distribution of SPO shares.
In 2020 and 2021, SPO and the Bartholomews, issued approximately 1.2 billion SPO treasury shares to five entities described as marketing consultants, ostensibly for marketing services. The OSC alleges, however, that little to no meaningful…
This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.