The Globe and Mail reports in its Thursday edition that the Ontario Securities Commission has criminally charged three directors of Banknote Capital Inc. with fraud, alleging that they raised more than $1.1-million from investors by promising high rates of return and guaranteed principal. The Globe's Alexandra Posadzki writes that the OSC has charged Ryan Rumble, Michael Dziedzic and Justin Foss, all of Chatham, Ont., each with one count of fraud over $5,000. Mr. Rumble has also been charged with one count of forging a document. The OSC alleges that the accused collected funds from investors between November, 2020, and August, 2023. Funds collected from new investors were used to repay existing investors, and some of the funds collected were misappropriated for Mr. Rumble's personal use, the OSC alleges. Mr. Dziedzic and Mr. Foss both surrendered to authorities and were subsequently released, the OSC said in a news release on Wednesday. A Canada-wide arrest warrant has been issued for Mr. Rumble. The investigation originated from Project Swan, a joint investigation by the OSC and Durham police that also resulted in criminal charges against Aiden Pleterski, the self-styled "crypto king" who has been accused of fraud.