Union Securities keeps telling the IDA that it will follow the rules — but doesn’t
Former advisor ian Thow, accused of embezzling millions from clients of Berkshire Investment Group Inc., has fled to the U.S. state of Washington just days before a meeting with creditors who claim they are owed more than $30 million in unsecured debt. He is now considered a fugitive from Canadian justice. Thow, 43, was a […]
Study of the Eron scandal shows few investors were looking to buy a new car or take a vacation
The Ontario Securities Commission alleges trading irregularities; CNQ CEO says that has no relevance to the exchange
IDA bans Bassett; RCMP investigate another former senior VP after millions of Jamaican bank investments lost
The campaign in britishColumbia to toughen up criminal prosecution of securities offenders suffered a setback last month when the inspector in charge of the RCMP’s securities force in Vancouver was turfed from his job and suspended with pay.Inspector Bill Majcher, 43, was removed as head of the RCMP integrated market enforcement team June 29, and […]
A painfully slow extradition process and a comfortable house-arrest provision have enabled financial fugitive Rakesh Saxena to wreak havoc on securities investors from his Vancouver-area home.A just-released forensic report filed in B.C. Supreme Court says Saxena — who is wanted by Thai authorities for allegedly embezzling $88 million from Bangkok Bank of Commerce — helped […]
Edmonton-based canglobe International Inc., which trades on the lowly OTC Bulletin Board in the U.S., appears to have little going for it except, perhaps, the presence of former political luminary Don Getty. Getty, 71, served two terms as Alberta premier. He has been on the boards of blue-chip companies such as Royal Bank of Canada, […]
Michael Ruge, a hedge-fund promoter in Victoria, professed to be a great humanitarian and, even worse, a great friend to the people he victimized, many of whom were elderly. He signed a settlement agreement May 5 with the B.C. Securities Commission, admitting he bilked investors out of $1.2 million. He agreed to a 25-year suspension […]
Like most financial predators, Paul O’Connor was a wolf in sheep’s clothing. From 1995 to 2001, the 56-year-old stockbroker worked at a sub-branch of DPM Securities Inc. in Parksville, B.C. Among his roster of 300 clients were several elderly residents, including 80-year-old Eileen Townsley. At Christmas, he sent her a note: “Eileen, you have been […]