The Alberta Securities Commission (ASC) on Monday announced the arrest of Kenneth Charles Fowler in Mexico and his return to Canada to face securities charges.
On Jan. 24, 2014, the ASC charged Fowler and Douglas Wayne Schneider in the Provincial Court of Alberta with fraud and other securities offences in relation to the sale of The Investment Exchange Mortgage Corp. (TIE) securities. At that time, Canada-wide arrest warrants were also issued for the two men.
Schneider was arrested and detained in the United States and extradited to Canada in 2014.He pled guilty in July 2015 to making misleading statements, trading in securities without registration, and trading in distributions of securities without a prospectus. He was sentenced to one year in jail (with credit given for time already served) for his role in TIE Mortgage.
See: Alberta man to serve jail time for unregistered trading
Fowler was arrested by Mexican immigration authorities in Ensenada on Jan 13. He was deported back to Canada, and arrested again in Vancouver on Jan. 14, the ASC says in a statement, adding it expects that he will be transported to Calgary later this week.
The allegations against Fowler have not been proven. Once he is returned to Calgary, he will have a bail hearing.
The ASC cease traded the TIE securities back in 2012.