ASC orders Calgary man to repay $3.2M

Misled investors? Check. Unlawfully sold investments? Check. Squandered investors money? Check. Wasted the life savings of elderly retirees? Check. No, I'm not talking about the ABC District CEF/DIL yet - but their day is coming. This is the case of Vernon Ray Fauth who was convicted of multiple securities violation by the ASC. The ASC... Continue Reading →

Canadian Fund Fraud Alert

CANADA – Rev. Simon Bar Sinister, Vice President of Lutheran Church in Canada, is warning Canadian churches and charities to be on the lookout for an affinity fraud scam. In the scam, a purported representative of a church extension fund solicits other members of the church asking them to trust them with their life savings under... Continue Reading →

CEF/DIL: Norton Rose Fulbright Lawyer Weighs in on ASC Stay of Proceedings Application

In an earlier article I wrote about an application made by a number of outside parties ot the ASC proceeding asking to delay the case until a representative action against the applicants had completed.  As a not-a-lawyer blogger my article was written from that perspective. Now Steven Leitl - a lawyer that specializes in securities, insolvency,... Continue Reading →

ASC Hearing Ruling: Balance of Convenience

In the ASC hearing one point of discussion was what was termed a "Balance of Convenience".  The Encyclopedia of Canadian Law defines this term so: Balance of Convenience meaning or description: a common law test; a court applying this test will balance the prejudice to one party of denying the relief asked for, against the prejudice to the... Continue Reading →

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