Client funds not invested as promised, police say
U.S. regulators are warning international investors that advance-fee fraudsters are impersonating regulators as part of their scams.The Financial Industry Regulatory Authority issued an updated investor alert warning international investors about a new twist in advance-free fraud involving low-priced US securities. Con artists have been misusing FINRA’s name and impersonating FINRA employees in email communications in […]
Men are more likely to have been defrauded more than once
The U.S. Securities and Exchange Commission announced the launch of its latest offensive targeting online boiler rooms, cold calls, and other potentially fraudulent financial solicitations.The SEC’s initiative is called “PAUSE” for Public Alert: Unregistered Soliciting Entities. The SEC is providing investors with information that it has received from investor complaints and other sources, including foreign […]
Communication and co-operation between Ontario and British Columbia securities regulators and their counterparts in Britain have led to unusual success in a recent stock swindle that crossed various jurisdictions. About 160 people in Britain who bought fraudulent mining shares are getting back 90% of the $2.5 million they collectively lost after being fleeced by boiler-room […]
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BCSC seeks to extend temporary order against Wong
Biovail to pay US$10 million penalty
A judge ejected Lacroix’s motion for appeal in a short hearing Tuesday at Quebec Superior Court in Montreal.The founder and former president of Norbourg Investments was found guilty in December of defrauding more than 9,000 investors, most from Quebec, of $115 million through a series of illegal transactions.Lacroix has been in prison since January 28 […]
CSA joins forces with Fraud Prevention Forum