Canada’s OSC warns against @TheWealthyCop Sunil Tulsiani
Canadian financial markets regulator OSC has issued a warning regarding the conduct of Sunil Tulsiani, who is permanently banned from trading securities in Ontario, and pleaded guilty to Securities Act offences in 2017. The OSC said it is aware of events being hosted by Mr. Tulsiani’s Private Investment Club.
On June 7, 2017, Mr. Tulsiani pled guilty to unregistered trading and breaching an OSC cease trade order in connection with an investment scheme involving the Private Investment Club, which targeted Ontario investors.
On March 22, 2012, the Commission imposed a number of bans on Mr. Tulsiani and his company, Tulsiani Investments. They were ordered to cease trading permanently. Mr. Tulsiani remains subject to a permanent cease trade order, which permanently bans him from trading in securities (which includes soliciting investors to trade in securities), or serving as a director or officer of a company or investment firm.
Sunil Tulsiani has branded himself as “The Wealthy Cop”, with his Twitter handle @TheWealthyCop having a following of 27,800. His YouTube channel has nearly 5,000 subscribers. On his website suniltulsiani.com Mr. Tulsiani writes that he is a former Canadian policeman who’s made good in real estate investing, and that he has become a wealth-making guru for hundreds of investors who flock to him to help them achieve the same results for themselves.
The regulator said that Ontario investors who have been approached by Mr. Tulsiani should contact the OSC Contact Centre at 1-877-785-1555 or inquiries@osc.gov.on.ca. The OSC encourages anyone who is considering buying or selling an investment to first do research or talk to their registered investment advisor.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.