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Warrant issued for former Ottawa resident accused of defrauding Canadians over $20-million

Stephan Gagnon allegedly promised Canadian investors immediate access to their locked-in retirement savings accounts.

A former Ottawa resident has been charged with offences related to fraud after an Ontario Securities Commission (OSC) investigation found that he had allegedly collected over $20-million from Canadian investors by promising them immediate access to their locked-in retirement savings accounts.

Stephane Gagnon was charged with crimes relating to his role as the sole officer and director of 8565287 Canada Inc., which also operated under the following business names: The Finance Company, Unlock RSP, SMAP Financial Service and The Loan Shop.

The OSC further alleges that the crimes happened from November 1, 2015 to May 31, 2021, where Gagnon used a significant percentage of investor funds for personal expenses, resulting in many investors not receiving the funds they were owed.

A warrant for Gagnon’s arrest has been issued.

Gagnon was charged with one count of fraud over $5,000 and one count of using a forged document as if it were genuine under the Criminal Code of Canada.

The investigation was conducted by a team within the OSC Enforcement branch that investigates quasi-criminal offences related to securities, including the investigation of alleged recidivists.

The primary objective is to protect investors and further enhance confidence in the Canadian capital markets through enforcement.

To date, the team has punished 53 quasi-criminal and criminal matters involving 77 accused.

Any investors who were solicited by Gagnon or who invested in 8565287 Canada Inc. should contact the OSC’s contact centre at 1-877-785-1555 (Toll Free) or email

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