BCSC panel finds that former registrant Lynne Rae Nickford committed fraud

BCSC panel finds that former registrant Lynne Rae Nickford committed fraud

A British Columbia Securities Commission (BCSC) panel has found that Lynne Rae Nickford (a.k.a. Lynne Rae Zlotnik) perpetrated fraud on 13 investors. Nickford had previously been registered as a scholarship fund salesperson from 1991 to 1993 and as a mutual fund salesperson from 1998 to 2008, but was not registered under the Securities Act during that period. She was also licensed as a life, accident and sickness insurance agent and was the sole proprietor of Lynne Zlotnik Wealth Management…

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Rob Mangat arrested following BCSC investigation

Rob Mangat arrested following BCSC investigation

Ravinderpaul Singh Mangat, also known as Rob Mangat, of Surrey, B.C., has been arrested following an investigation by the British Columbia Securities Commission. “It is alleged that from July 2012 to October 2014, Mangat convinced a Vancouver resident to invest $500,000 in a “Privileged Investment Group” offering a high guaranteed return. Rather than invest the money as promised, it is alleged Mangat spent the bulk of the invested funds on personal expenses and paying off debts,” states…

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Surrey man accused of securities fraud

Surrey man accused of securities fraud

A Surrey man who B.C. Securities Commission investigators say used $500,000 of a client’s money to pay off debts has been arrested by Vancouver police. Ravinderpaul (Rob) Singh Mangat, 44, was arrested Aug. 5 following an investigation by the securities commission’s criminal investigations branch. Police arrested him on a warrant issued for two counts of fraud over $5,000. From July 2012 through October 2014, the commission alleges Mangat told a Vancouver resident he would invest…

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Alena Pastuch fraud trial adjourned until September 2018

Alena Pastuch fraud trial adjourned until September 2018

The trial for Alena Pastuch has been scheduled to begin in September 2018, 10 months later than originally planned. Pastuch, from Regina, Sask. has been charged with defrauding investors of more than $5 million. Justice Richard Elson “somewhat reluctantly” agreed to Alena Pastuch’s application to have the trial adjourned. It was supposed to have begun Nov. 6. “In the interest of fairness, the adjournment request should be granted,” said Elson. Calgary-based defence lawyer Cory Wilson,…

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‘Pharma Bro’ Martin Shkreli’s sentence turns on fraud’s impact on investors, legal experts say

‘Pharma Bro’ Martin Shkreli’s sentence turns on fraud’s impact on investors, legal experts say

Former drug company executive Martin Shkreli could spend years in prison for Friday’s investor fraud conviction if the judge focuses on the intended impact of his crime and his “Pharma Bro” social media antics, according to legal experts. Shkreli, widely criticized after he acquired rights to an infection treatment and then raised prices 5,000 percent in 2015, hopes to avoid prison because of an unusual twist to his case: defrauded investors suffered no loss from…

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Why Martin Shkreli is guilty when investors didn’t lose

Why Martin Shkreli is guilty when investors didn’t lose

Martin Shkreli became notorious for raising the price of a potentially life-saving HIV drug by 5,000 per cent overnight. However, his criminal fraud trial in Brooklyn, New York had nothing to do with that. His trial was about whether he lied to investors, to which he was convicted of securities fraud and conspiracy on August 4. Shkreli was accused of lying to investors about two, now-defunct, hedge funds that he managed, MSMB Capital and MSMB…

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Martin Shkreli is found guilty of three of eight securities fraud charges

Martin Shkreli is found guilty of three of eight securities fraud charges

A U.S. jury convicted Martin Shkreli, the brash former drug company and hedge fund executive, on Friday of defrauding investors in hedge funds he ran years before he gained fame for jacking up the price of a drug. Jurors in U.S. District Court in Brooklyn found Shkreli guilty of two counts of securities fraud and one count of conspiracy. But they acquitted him of five conspiracy counts, including conspiracy to steal from his old drug…

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SEC settles with Vancouver man for role in pump-and-dump scheme

SEC settles with Vancouver man for role in pump-and-dump scheme

A Vancouver man has settled charges brought by the U.S. Securities and Exchange Commission (SEC), which alleged that he carried out a secret pump-and-dump scheme in American penny stock. The SEC announced that Joe Yiu Cheung, who lives in Vancouver and Hong Kong, has agreed to pay almost $800,000 USD and is to be banned permanently from dealing with penny stocks in order to settle allegations he violated securities laws by secretly taking a significant…

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Sarnia father and son arrested in alleged investment scam

Sarnia father and son arrested in alleged investment scam

Sarnia, Ont. police are looking for the public’s help in a six-month investigation of an alleged father and son investment scam. Police allege that the duo posed as investment managers to keep people’s money for their own gain. The father and son allegedly used fake bonds and cheques to make clients believe their money was being invested in foreign holdings. One local victim was defrauded of over $66,000 and police believe more people may have…

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Former Calgary lawyer Floyd Campbell faces up to two years in jail for theft

Former Calgary lawyer Floyd Campbell faces up to two years in jail for theft

The prosecution wants former Calgary lawyer Floyd Campbell to spend 18 to 24 months in jail for his role in a real estate scheme that swindled investors out of millions of dollars. Campbell stole $225,000 from an investor to help finance a fledgling development in Mexico. The money was supposed to be held in Campbell’s trust account. He was originally charged with 30 counts of fraud and theft but pleaded guilty to just one count…

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