The Globe and Mail reports in its Wednesday edition that a panel of the Ontario Securities Commission has ordered the principals of Paramount Equity Financial Corp., which sold pooled mortgage products until it was shut down in 2017, to pay $47.2-million, after they were found to have defrauded investors. The Globe's David Milstead writes, however, that one of the defendants, the company's chief executive officer, has gone missing, and another defendant is collecting employment insurance, raising questions as to how much of the judgment will be paid. Paramount and several affiliate companies, which were placed under the control of a receiver at the request of the OSC in 2017, promoted themselves as a vehicle for investing in second mortgages on residential homes. They raised $78-million from 500 investors for their two funds. About $50-million was instead directed to higher-risk mortgages for undeveloped land, or the redevelopment of existing buildings. The OSC panel, called the Capital Markets Tribunal, also found in April, 2022, that the principals of Paramount -- CEO Marc Ruttenberg plus executives Brad Burdon and Matthew Laverty -- had undisclosed indirect ownership interests in these riskier development projects.