OSC permanently bans DeFrancesco
2025-09-03 20:02 ET - Street Wire
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by Mike Caswell
The Ontario Securities Commission has permanently banned Toronto's Andy DeFrancesco over his part in the pump-and-dump of Cool Holdings Inc. in 2018. The OSC said that Mr. DeFrancesco used the company in a scheme that generated $8-million in gains. (All figures are in U.S. dollars.) Banning him was "necessary to protect the public interest and safeguard the integrity of Ontario's capital markets," the OSC claimed.
The ban for Mr. DeFrancesco is contained in a brief order that the OSC issued on Wednesday, Sept. 3. The order bars him from serving as an officer or director of any issuer, registrant or investment fund manager. He is also required to resign any such positions that he holds.
The order, which came without any opposition from Mr. DeFrancesco, stemmed from the pump-and-dump of Cool Holdings and a case that the U.S. Securities and Exchange Commission filed against him over that scheme. The SEC said that Mr. DeFrancesco unloaded shares of Cool Holdings amidst claims that the company had a "$900 Million Opportunity from Apple." The stock went to an $18.25 high during the scheme, before dropping to pennies.
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His website is still active, hmmmmm?
https://about.me/andrewdefrancesco
In 2024, he seems still to be in the markets
https://www.marketscreener.com/insider/ANDY-DEFRANCESCO-A0MTHG/
SOL GLOBAL INVESTMENTS CORP.
2024-03-21 4,356,000 ( 8% ) 204 732 $ 2025-07-30
https://www.newswire.ca/news-releases/former-ceo-announces-decrease-in-personal-holdings-to-17-55--832775914.html
TORONTO, March 4, 2024 /CNW/ - Andrew DeFrancesco, former Chief Executive Officer of SOL Global Investments Corp. (the "Company" or "SOL Global"), announces that as of today's date, he has sold a total of 335,500 common shares in the capital of SOL Global (the "Common Shares") which now brings his total holdings down to an aggregate of 9,554,352 Common Shares for approximately 17.55% of the issued and outstanding Common Shares of SOL on a non-diluted basis. Mr. DeFrancesco does not currently own any other securities convertible into Common Shares. This represents a change of 2.44% in the total holdings of Mr. DeFrancesco from his previously reported amounts.
Posted by halcrow at 2025-09-03 21:48
His son races in the Indy Car series and that does not come cheap (He is a paying
driver) so the money has to come from somewhere.
Posted by Sequential at 2025-09-05 12:15