Is it true that the SEC sanctioned Rene Pardo from Ontario? (Update 2024)

Rene Pardo Ontario claims to be presently managing and supporting transformational R&D to eliminate electrical arcs causing electrical fires, with the goal of saving thousands of lives and billions of dollars in property damage (and the associated emotional distress). Rene Pardo Ontario claims to be an inventor, designer, and business owner.

Being a self-absorbed man Rene Pardo Ontario claims to be a visionary driven by the desire to touch and serve people by developing world firsts. Also, it mentions in his fake PR that he has spent his whole life supporting advanced R&D and building innovative firms around outstanding, intelligent individuals.

What Rene Pardo Ontario further claims is that he is most known for co-inventing and implementing the world’s first electronic spreadsheet (1969), as well as Forward Referencing, a key feature of modern spreadsheets and reactive programming.

Throughout the early 1970s, the spreadsheet was licensed to and utilized by AT&T’s budgeting department and every telephone provider in North America, including Bell Canada, as well as General Motors in Warren, Michigan.

Rene Pardo Ontario further claims and mentions in all his fake publications that he is regarded as a pioneer in human-computer interactions and interfaces and for his contributions to education and multimedia. 

Rene Pardo Ontario looked up to Norman McLaren (National Film Board in Montreal, Quebec) and Ken Knowlton (Bell Labs in Murray Hill, New Jersey). Rene Pardo Ontario claims that he is inspired by the environment of the NFB and Bell Labs, which provided complete creative freedom to brilliant individuals, and he continues to attempt to replicate the same surroundings supporting creativity and innovation in corporate settings.

Rene Pardo Ontario- The Divisional Court overturned the Ontario Securities Commission’s findings against Rene Pardo.

On November 10, 2011, the Ontario Superior Court of Justice (Divisional Court) issued an order rejecting the findings and fines imposed by the Ontario Securities Commission against Rene Pardo Ontario in the OSC’s decisions and orders dated September 7, 2010, and January 26, 2011.

The Court’s Endorsement further stated that the OSC would form a new panel to evaluate and consider either the September 29, 2009 settlement agreement between Mr. Pardo and OSC Staff, or another settlement arrangement agreed to by the parties.

Rene Pardo Ontario and the Staff have not yet scheduled a hearing to evaluate and discuss a settlement agreement.

The OSC’s mandate is to protect investors from unfair, unethical, or fraudulent conduct to promote fair and improper or fraudulent practices, and to foster fair and efficient capital markets and confidence in capital markets.

Rene Pardo Ontario- Background of the Case

• On February 26, 2001, Mega-C Power Corporation (“Mega-C”), formerly known as Net Capital Ventures Corporation, was incorporated in the state of Nevada. Mega-C’s headquarters were in Vaughan, Ontario, at all times material. Mega-C claimed to be developing and commercializing a hybrid capacitor/battery (the “Technology”). 
• Rene Pardo Ontario was a Mega-C founder and served as the corporation’s President, CEO, and director at all material times. Rene Pardo Ontario has never been registered with the Commission in any capacity. 
• Rene Pardo Ontario and the Respondent, Gary Usling, controlled and ran NetProfitEtc. Inc. (“NetProfit”). Rene Pardo Ontario also owned and controlled a variety of holding corporations, including 503124 Ontario Inc.

Rene Pardo Ontario- The settlement

• Staff proposes that the proceeding initiated against the Respondent, Rene Pardo Ontario, be settled in accordance with the terms and conditions set out below. Rene Pardo Ontario accepts the settlement on the basis of the facts agreed to in Part IV, and consents to the issuance of an Order in the form attached as Schedule “A” on those facts.
• The provisions of this settlement agreement, including the attached Schedules “A” and “B” (collectively, the “Settlement Agreement”), will be made public only if and when the Commission approves the Settlement Agreement.

Rene Pardo Ontario- Acknowledgment

Rene Pardo Ontario agrees with the facts set out in Part IV as well as the Supplementary Statement of Facts attached to this Agreement and labeled as Schedule “B” for the purposes of this settlement only. Rene Pardo Ontario explicitly disputes that this Settlement Agreement is intended to constitute an admission of civil liability by Rene Pardo Ontario to any person or organization.

The staff appreciates that Rene Pardo Ontario was cooperative during the investigation of this complaint and the settlement process.

• Rene Pardo Ontario accepts and acknowledges that his actions stated below were against the public interest. 
• Rene Pardo Ontario agrees and accepts that the conduct described below violated Section 25 of the Act and that he was not eligible for any exemptions. 
• Rene Pardo Ontario agrees and accepts that the conduct described below violated Section 53 of the Act and that he was not eligible for any exemptions. 
• Rene Pardo Ontario recognizes and acknowledges that the conduct stated in this document violated Sections 38(1) and 38(3) of the Act.

Rene Pardo Ontario- Staff Commitment

• If the Commission approves this settlement, Staff will not launch any further proceedings under the Act against Pardo based on the facts set forth in Part IV of this Settlement Agreement.
• If the Commission approves this settlement and Pardo fails to honor the terms of settlement contained in paragraph 23 of this Settlement Agreement at any time thereafter, Staff reserves the right to bring proceedings against Pardo based on the facts set forth in Part IV of this Settlement Agreement and the breach of this Settlement Agreement. 

Reference- Settlement Agreement: In the Matter of Mega-C Power Corporation, Rene Pardo, Gary Usling, Lewis Taylor Sr., Lewis Taylor Jr., Jared Taylor, Colin Taylor,, and 1248136 Ontario Limited and In the Matter of a Settlement Agreement Between Staff of the Ontario Securities Commission and Rene Pardo (capitalmarketstribunal.ca)

Rene Pardo Ontario- What counts as Fraud in Canada?

In the Criminal Code of Canada, fraud is defined as deliberately depriving someone of their belongings (property, money, services, etc.) through deceit or misrepresentation of their true intention. It is technically theft, but in a fraud case, the theft occurs because the victim gave their money, property, or services up willingly. Fraud crimes may include:

• Altering price tags
• Tax evasion
• Identity theft
• Bank fraud
• Embezzlement
• Insurance fraud
• Forgery
• Purgery

To be charged with fraud, the Crown Prosecutor must be able to prove beyond a reasonable doubt that:

• You stole something from someone fraudulently
• The complainant is the owner of the item 
• The deprivation was intentional and under false pretenses
• The Crown Prosecutor must also prove that you were the individual involved in the fraud. They also must provide the data regarding when (date and time) and where (location) the fraudulent activity occurred. 

Your fraud defense lawyer will be able to explain the criminal components that break down the charge of Fraud in Canada and will do whatever it takes to get you through this tough time. 

Rene Pardo Ontario- Explaining criminal code in Canada

Fraud laws in Canada are relatively self-explanatory. The penalties for fraudulent activity depend on the:

• Value of the offense
• Sophistication of planning
• Breach of trust
• Number of people involved
• Type of people swindled
• Offender’s criminal history
• Aggravating circumstances enforce a harsher penalty for fraudulent activity. 

According to Section 380 of the Criminal Code of Canada, anyone who commits fraud is guilty of an indictable offense and is subject to a prison term of no more than fourteen years when the offense amounts to more than $5,000. Those guilty of offenses of an amount less than $5,000 are indictable and subject to a prison term of up to two years.

Section 380.1 covers aggravating circumstances and defines them as follows:

1. A significant degree of complexity is involved in planning fraud
2. The fraudulent act affects the Canadian economy or financial market adversely
3. The act affects a large number of people and has a huge impact on these individuals due to their finances, age, or health. 
4. The offender wasn’t qualified or licensed to take these actions (but pretended to)
5. The offender destroyed or concealed evidence of the fraudulent act

2.5

Get Justice Suspicious

If you have been scammed by Rene Pardo Ontario, then you can get justice by sharing your complaint with us. We will connect with you experts and journalists who will help you get your money back and get heard by the right people.

Share Information

It is strongly suggested that you do your own research before spending money online. This is a user-generated report.

Alternative Measures Programs may be available for first-time offenses that are minor in nature. The steps in these programs may include:

1. Compensating for losses and damages
2. Giving an apology to the victim(s)
3. Performing community service
4. It allows offenders to show the intention of making amends and acknowledging their wrongdoing and can be used to work towards a more favorable resolution.

Is it true that the SEC sanctioned Rene Pardo from Ontario? (Update 2024)

Submit Your Gripe