The Ontario Securities Commission concluded an 11-month investigation of Sino-Forest on Tuesday, saying that the firm had inflated its timber purchase and sales figures, The Wall Street Journal reported. The regulator said in a statement that the company and certain executives, including the firm’s former chairman and CEO Allen Chan, had engaged in “deceitful and dishonest courses of conduct” relating to “the purported purchase and sale of timber.” Chan resigned last month when the OSC signaled it would prosecute Sino-Forest after it issued a so-called enforcement notice. The regulator also accused David Horsley, the company’s former CFO, of acting “contrary to the public interest.” Sino-Forest’s shares plummeted after a short-selling firm alleged in June last year that it exaggerated the value of its timber assets. The company denied the allegations, but it has since been de-listed from the Toronto Stock Exchange.