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 →

CEF/DIL: ASC vs LCC et al

Last August 2018 the ASC held a meeting to determine the date for the hearing to consider the case against the various respondents. In Jan 2019 counsel for the respondents and some non-party people defending against a representative action tried to delay the case and were turned down. A little while later counsel for the respondents appealed... Continue Reading →

CEF/DIL Lightning Round: April 30, 2019

ASC's April Hearing Earlier this month the ASC held another hearing related to the upcoming panel hearing into alleged financial misconduct by ABC District and related people. Sources have it that this hearing was another attempt by a non-party group to delay the proceeding until some later date. When the ASC posts the result of... 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 →

ASC Hearing Ruling: Feb 28, 2019

When the CEF / DIL funds collapsed there was considerable speculation about what happened, why it happened, and if any laws were broken - what the left-hand authority of God's agents on earth would do about it. On Aug 31, 2018 the ASC held a hearing where staff laid out it's case against various named... Continue Reading →

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