Michael Cody got the sentence after pleading guilty in provincial court to one charge of violating the Securities Act by breaching a New Brunswick Securities Commission order.
In April of 09, the commission permanently banned Cody from trading in securities and ordered him to pay a $50,000 penalty as a result of his involvement in the solicitation and sale of shares in Locate Technologies and Tubtron Controls to residents in the province.
He continued to trade in securities leading to the charge in provincial court.