National

Man steals over 1M from 9 investors

Darpan News Desk The Canadian Press, 05 Feb, 2024 04:25 PM

A North Vancouver man has pleaded guilty to one count of theft after an investigation found he stole more than one-million-dollars from nine investors.

A statement from B-C Securities Commission says the 55-year-old man was arrested in October 2022 and remains on bail, entering the guilty plea last week with sentencing scheduled for early May.

The commission says investors gave the man a total of 1.66 million U-S dollars between 2007 and 2017 as he promised to generate high returns through a purported private investment fund administered through his B-C company.

But it says the man wasn't registered to trade securities, and he instead used investor funds for personal expenses while losing much of the money making bad stock trades through his personal brokerage account.

Prev Next

MORE National ARTICLES

Extreme cold: -40C forecast in Edmonton as snow causes road havoc in Metro Vancouver

Extreme cold and biting wind has gripped Western Canada, breaking multiple decades-long daily temperature records in Alberta and British Columbia. Environment Canada says Edmonton's temperature is -36.6 C and forecast to hit -40 C tonight on one of the coldest days in half a century, after plummeting to -34.6 C on the coldest Jan. 11 since 1997.

Extreme cold: -40C forecast in Edmonton as snow causes road havoc in Metro Vancouver

BC gets 5 new Indigenous Justice Centres

Premier David Eby says five new Indigenous Justice Centres set up in B-C over the past year will help make the legal system work better for Indigenous people. Eby says a total of nine centres across the province will connect more people with culturally safe legal supports and services.

BC gets 5 new Indigenous Justice Centres

RCMP looking for erratic driver

The R-C-M-P say they are trying to find a 24-year-old man suspected of driving dangerously through Surrey’s streets during peak traffic hours. Police say officers conducted a traffic stop on a 2017 white Range Rover on September 7th for dangerous driving.

RCMP looking for erratic driver

Facebook lawsuit settling fee $51M

Meta is offering $51 million to settle a class-action lawsuit in four Canadian provinces over the use of some users' images in Facebook advertising. The legal action filed by a B.C. woman claimed her image and those of others were used without their knowledge in Facebook's "sponsored stories" advertising program, which is no longer in operation.

Facebook lawsuit settling fee $51M

Cold warnings cover much of the West, chilling even the sturdiest Canadians

Environment Canada's warnings extend into the normally temperate Metro Vancouver and Greater Victoria regions. It said the combination of gusts reaching 60 kilometres an hour and cold temperatures will push wind chill values in Metro Vancouver and Greater Victoria to near -20. The agency warned that temperatures that cold can bring frostbite, and hypothermia can occur within minutes if precautions are not taken when outdoors.

Cold warnings cover much of the West, chilling even the sturdiest Canadians

B.C. police agencies tout rollout of body worn cameras

Police agencies in British Columbia say the introduction of body cameras will improve transparency and lead to more timely resolution of complaints against officers. The B.C. Association of Chiefs of Police and representatives from several departments gathered at RCMP headquarters in Surrey to tout the introduction of the cameras, soon to be worn by thousands of officers in the province and across Canada.