Close X
Friday, November 8, 2024
ADVT 
National

Fraud Prompts B.C. Securities Commission To Levy $1-Million Fine On Chilliwack Real Estate Developer

The Canadian Press, 01 Dec, 2015 12:14 PM
    VANCOUVER — A British Columbia real estate developer has been ordered to pay more than $1 million after a finding of fraud by the provincial securities commission.
     
    A B.C. Securities Commission panel has ordered that Rodney Wharram pay a $500,000 fine and another $517,500 to cover the amount it says he obtained by his fraudulent misconduct.
     
    A commission panel determined that Wharram and three companies committed fraud by taking money from one company and depositing it into another, and then using the funds for Wharram's personal expenses.
     
    The money had originally been raised from investors for developing a real estate project near Chilliwack, B.C.
     
    The panel ruled investor losses were significant, that the fraudulent misconduct was repeatedly deceitful, and a significant fine is necessary for deterrence purposes.
     
    The panel also ordered Wharram resign any position he holds as a director or officer and that his companies Falls Capital Corp., Deercrest Construction Fund Inc. and West Karma Ltd. be permanently cease-traded.

    MORE National ARTICLES

    Judge In Guy Turcotte Murder Trial Cautions Jury Against Public Opinion Of Case

    Judge In Guy Turcotte Murder Trial Cautions Jury Against Public Opinion Of Case
    SAINT JEROME, Que. — The judge presiding over the first-degree murder trial of ex-Quebec doctor Guy Turcotte is cautioning the jury against being influenced by public opinion on the case.

    Judge In Guy Turcotte Murder Trial Cautions Jury Against Public Opinion Of Case

    International Climate Negotiations Are The Key To Global Peace, Says Francois Hollande

    International Climate Negotiations Are The Key To Global Peace, Says Francois Hollande
    Prime Minister Justin Trudeau is among the 151 national representatives at the two-week negotiations that aim to complete a binding framework for post-2020 emissions reductions.

    International Climate Negotiations Are The Key To Global Peace, Says Francois Hollande

    Two B.C. Trucking Companies Hold Out On Inking Deal With Unifor, Others Sign On

    Two B.C. Trucking Companies Hold Out On Inking Deal With Unifor, Others Sign On
    Unifor is Canada's largest private-sector union and represents more than 300,000 members across the country

    Two B.C. Trucking Companies Hold Out On Inking Deal With Unifor, Others Sign On

    Internal Power Struggle Within B.C. Korean Society Boils Over Into Legal System

    Internal Power Struggle Within B.C. Korean Society Boils Over Into Legal System
    Assault, embezzlement and libel are just a few of the accusations several members of a nearly 50-year-old Vancouver cultural association are launching at one another as an internal power struggle boils over into the courts.

    Internal Power Struggle Within B.C. Korean Society Boils Over Into Legal System

    Service Packed For Tribute To Alberta MLA Manmeet Bhullar Who Died Helping Motorist During Storm

    Service Packed For Tribute To Alberta MLA Manmeet Bhullar Who Died Helping Motorist During Storm
    Tributes were also read from Prime Minister Justin Trudeau, Alberta Premier Rachel Notley, and a video eulogy was played from Canadian Defence Minister Harjit Sajjan.

    Service Packed For Tribute To Alberta MLA Manmeet Bhullar Who Died Helping Motorist During Storm

    Cat Bleeding From Severed Tail Tossed 'like Trash' At Cranbrook Dump

    Cat Bleeding From Severed Tail Tossed 'like Trash' At Cranbrook Dump
    The black cat, now named Malala, was found with her tail cut off, her legs tied together, bleeding from several wounds and extremely dehydrated and emaciated.

    Cat Bleeding From Severed Tail Tossed 'like Trash' At Cranbrook Dump