Two other executives, Gordon Eckstein and Myron Gottlieb, were also found guilty of fraud in the Livent scandal and later banned from serving as a director or officer of a public company under settlements reached with the OSC. Drabinsky was found guilty of two counts of fraud and sentenced to a five-year prison term back in 2009 for manipulating company financial statements and orchestrating a kickback scheme. © The Canadian Press, 2017 He appealed the convictions all the way up to the Supreme Court of Canada, which dismissed the application. Ontario’s securities watchdog has permanently banned Garth Drabinsky from becoming a director or officer of a publicly traded company, bringing to a close a 16-year-old case against the former theatre impressario. Keep Drabinsky out of capital markets, regulator tells hearing
Garth Drabinsky has been punished enough, lawyer tells Ontario securities regulator
The OSC case against Drabinsky was first launched in 2001, but was put on hold until the conclusion of his criminal case for his role in the Livent Entertainment scandal. The Ontario Securities Commission says Drabinsky, who defrauded investors of an estimated $500 million, is also prohibited from acting as or becoming a registrant in Ontario.