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

Witnesses need to come forward in shooting, plea from Coquitlam RCMP

Mounties in Coquitlam say they're looking for witnesses and video footage of a shooting Thursday afternoon. Coquitlam R-C-M-P say nobody was injured in the shooting, which happened before 3 p-m around Johnson Street and Glen Drive.

Witnesses need to come forward in shooting, plea from Coquitlam RCMP

Snowfall warning triggers travel advisories for two B.C. highways

Environment Canada has also issued snowfall warnings for a number of areas in B.C. as a low pressure system from the Pacific Ocean approaches after an unusually warm December. The weather agency says the area around Whistler and the Howe Sound can expect accumulation at elevations above 400 metres, with the ski resort community getting as much as 15 centimetres.

Snowfall warning triggers travel advisories for two B.C. highways

Surrey RCMP need public's help in locating missing male Narinder Sandhu

Narinder Sandhu is described as a 69 year old South Asian Male. He is 5"7 with a slim build with white facial hair. He is believed to be riding a white Infinity mountain bike. Anyone with information on the whereabouts of Narinder Sandhu is asked to contact the Surrey RCMP at 604 599 0502.

Surrey RCMP need public's help in locating missing male Narinder Sandhu

Abbotsford Police handed out close to 300 tickets in project joyride

Police in Abbotsford say they handed out close to 300 traffic tickets and impounded more than 100 vehicles in what it called "project joyride." The department’s traffic enforcement unit spent numerous shifts in October and November focusing on high-risk driving behaviours such as speeding and street racing.

Abbotsford Police handed out close to 300 tickets in project joyride

Trucking group's B.C. firm suspended for overpass strike, but still runs Alberta arm

B.C.'s Transport Ministry says in a statement it has reached out to counterparts in Alberta about the suspension of the safety certificate for Chohan Freight Forwarders' 65-truck fleet. The statement came after social media users shared photographs they said were taken in B.C. this week that showed trucks branded "Chohan Group" and "Edmonton." A truck operated by Langley, B.C., based Chohan Freight Forwarders was involved in the Dec. 28 crash that lodged a steel girder in an overpass over Highway 99 in Delta.

Trucking group's B.C. firm suspended for overpass strike, but still runs Alberta arm

B.C. government fined $710K for unsafe wildfire mitigation work

British Columbia's government has been fined more than $700,000 after inspectors say they found unsafe wildfire mitigation practices at a site in the province's northeast. A summary posted online by WorkSafeBC says inspectors went to a site near Wonowon, B.C., where trees were being cut down to reduce wildfire fuel, finding evidence of unsafe cuts.