Massachusetts hedge fund manager with ties to Toronto based asset management firm gets six years in prison for fraud

Massachusetts hedge fund manager with ties to Toronto based asset management firm gets six years in prison for fraud

May 7,2018 (Courtesy of Reuters) – A Massachusetts hedge fund manager was sentenced on Thursday to six years in prison for defrauding investors in a scheme that prosecutors said cost his clients over $10.5 million and allowed him to fund a lavish lifestyle. Yasuna Murakami, who managed MC2 Capital Management LLC and another investment advisory firm, wiped away tears before being sentenced by U.S. District Judge Douglas Woodlock in Boston as he apologized for the…

Read More

JSOT criminally charges David Del Bianco with fraud and money laundering

JSOT criminally charges David Del Bianco with fraud and money laundering

April 27,2018 (Courtesy of Alberta Securities Commission) – The Alberta Securities Commission (ASC) and the Alberta RCMP announced today that David Del Bianco of Calgary, Alberta has been charged with offences under the Criminal Code, following an investigation by the Joint Serious Offences Team (JSOT). Del Bianco has been criminally charged with one count of fraud contrary to section 380(1)(a) and one count of money laundering contrary to section 462.31. It is alleged that Del Bianco fraudulently raised approximately $500,000 from more than 40 different investors…

Read More

Osgoode investor protection clinic receives $80K in court-directed award

Osgoode investor protection clinic receives $80K in court-directed award

April 24, 2018 | Written By Alexia Kapralos – Osgoode Hall Law School’s Investor Protection Clinic has received an $80,000 cy-près award from a class action settlement that will help the clinic remain open throughout the summer. The injection of cash was a “very welcome surprise,” according to the clinic’s academic director, Poonam Puri. The Toronto-based clinic will be putting the court-directed award toward hiring four summer students so client files can remain open past the academic term. Neither…

Read More

Sydney Lederman Sentenced to 90 Days Jail for Fraud

Sydney Lederman Sentenced to 90 Days Jail for Fraud

April 19, 2018 – The Ontario Securities Commission (OSC) announced today Mr. Sydney Lederman of Toronto, Ontario, was sentenced to 90 days in jail and three years of probation by Justice M. Wong at the College Park-Ontario Court of Justice on April 13, 2018. Following an investigation by the OSC’s Joint Serious Offences Team (JSOT) and prior to a trial, Mr. Lederman pled guilty on February 20, 2018 to a charge of Fraud Over $5,000 under the Criminal Code of Canada.  This conviction relates to Mr. Lederman’s…

Read More

St. Albert businessman sentenced to 7 years for massive Ponzi scheme

St. Albert businessman sentenced to 7 years for massive Ponzi scheme

April 19, 2018 (Courtesy of cbc.ca) – A St. Albert businessman convicted of fraud in a multi-million dollar Ponzi scheme has been sentenced to seven years in prison and ordered to pay $5.8 million in restitution. Wade Closson pleaded guilty earlier this year to 53 counts of fraud over $5,000. He was sentenced Wednesday in Edmonton’s Court of Queen’s Bench. “It could have been more,” said Rick Belleperche, who lost nearly all of his pension in the investment scam. “It should been more.” Belleperche, who…

Read More

Former funeral home director accused of defrauding victims of nearly $400K: OPP

Former funeral home director accused of defrauding victims of nearly $400K: OPP

April 9, 2018 (courtesy of The Canadian Press) – A former funeral home director is facing a number of charges after allegedly defrauding the families of people who had pre-paid for their arrangements. Provincial Police Sgt. Peter Leon says the investigation centred on the Watts Funeral Home, a now-shuttered family-run business that had three locations in the central Ontario communities of Wasaga Beach, Midland and Penetanguishene. Leon says one of the family members on the funeral…

Read More

Pembroke lawyer receives two years for fraud

Pembroke lawyer receives two years for fraud

March 23, 2018 (Courtesy of thee Dailyobserver.ca) – A Pembroke lawyer will spend the next two years in a federal penitentiary after pleading guilty to defrauding his clients of $378,845 over a 15-month period. During a sentencing hearing at the Pembroke courthouse Wednesday, Kenneth Conroy apologized for the hurt and harm his actions caused. In pleaing to one count of fraud and one count of breach of trust, he received two years probation, a $400…

Read More

$2.6 billion award in Sino-Forest fraud case

$2.6 billion award in Sino-Forest fraud case

Judgment is the first to definitively state that Sino-Forest was a fraud headed by Allen Chan  March 15,2018 (courtesy of Financialpost.com) – A Canadian court has awarded plaintiffs US$2.63 billion in a civil case against Sino Forest Corp co-founder and CEO Allen Chan, a decision that’s certain to lead to more litigation over one of the biggest cases of securities fraud by a listed Chinese firm.Ontario Superior Court Justice Michael Penny, in a 174-page judgment…

Read More

Fraud charges against Ottawa couple leave investors worried

Fraud charges against Ottawa couple leave investors worried

March 14, 2018 (Courtesy of OttawaCitizen.com) –  After years of battling side by side on the ice, he had their trust. So when Marc Brunet offered to bring friends in on a big investment opportunity, they lined up with cash in hand, they say.But now, years later, with their teammate facing charges after a joint investigation by the Ontario Securities Commission (OSC), the RCMP and the OPP, those same friends say they wish they’d looked…

Read More

Knowledge House insiders guilty of fraud in collapse of e-learning company

Knowledge House insiders guilty of fraud in collapse of e-learning company

Marc 9,2018 (courtesy of CBC.ca)Two key players at Knowledge House have been found guilty of fraud in the collapse of the Halifax e-learning company. Nova Scotia Supreme Court Justice Kevin Coady rendered his decision Friday morning after a marathon trial that spanned more than 150 court days over two years. Former CEO Dan Potter and company lawyer Blois Colpitts were found guilty for their roles in a stock-price manipulation that artificially maintained Knowledge House share prices before…

Read More
1 2 3 17