The OSC has reached a tentative settlement agreement with Boaz Manor, co-founder of Portus Alternative Asset Management.

Read: Manor ordered to return to Toronto

It will decide the fate of that agreement on August 27, 2012 at 2:30 p.m.

Portus, a hedge fund, had gathered in excess of $800 million from about 26,000 investors before the OSC shut down the company in 2005 amid fraud allegations.

In May 2011, Manor was sentenced to four years in jail for breach of trust and disobeying a court order.

Read:

Portus case crawls toward resolution

High-profile lawyer defending Manor

Some Portus investors saved at last minute

OSC lays more charges against Portus

What’s a regulator good for? In Canada, not much

Portus notes

Mendelson pleads guilty; may testify against Manor