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by Mike Caswell

Mississauga's Huy Le Huynh has accepted a seven-year ban and has agreed to pay $635,000 for insider trading in Score Media & Gaming Inc. in 2021. The Ontario Securities Commission claimed that Mr. Huynh, who was Score Media's vice-president of finance, learned about a $2-billion (U.S.) takeover for Score before the news became public. He then arranged an option purchase through an account in the name of his wife's friend, according to the OSC.

The penalties for Mr. Huynh are contained in a settlement agreement that the OSC released on Monday, Oct. 20. The agreement bars Mr. Huynh from trading and serving as an officer or director for seven years. The $635,000 includes a $325,000 administrative penalty, disgorgement of $270,000 plus $40,000 in costs. Mr. Huynh's wife, who was also a respondent in the case, is similarly banned for three years and must pay $10,000.

The settlement comes just weeks after the OSC filed a case against Mr. Huynh, a chartered professional accountant. The OSC identified his wife as Thi Anh Nguyet Pham, also a CPA, who worked at Bell Canada until she took parental leave in February, 2021. The case centred on a takeover that Nasdaq listing Penn National Gaming made for Score Media in 2021.

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