Trader convicted of fraud may be active again under assumed name: Regulators
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The Alberta Securities Fee is searching for the general public’s help in an ongoing investigation right into a convicted fraudster it believes could also be soliciting funding funds.
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In a press launch the ASC mentioned it’s believed that Kenneth Charles Fowler could also be working beneath an assumed title regardless of the very fact he has been completely barred from buying and selling.
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“Investigators consider that Fowler solicited funds from traders between 2020 and 2022 beneath false pretenses utilizing the title Ken Davidson related to the Finkle Avenue Buying and selling firm,” the regulating company mentioned.
“At the very least one (alleged) sufferer has been recognized.
“The ASC believes that Fowler could have solicited different traders in Calgary, together with seniors. Anybody who has been approached by Fowler, (often known as) Ken Davidson, to take a position or have dealings with Finkle Avenue Buying and selling is requested to contact the ASC at 1-877-355-4488.”
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Fowler, 71, was handed a three-year jail time period in 2017 for bilking dozens of traders, a few of their life financial savings, in a mortgage fraud.
He pleaded responsible in March 2017 to 3 costs beneath the Securities Act, together with fraud in reference to investments of $12.5 million in his “The Funding Trade Mortgage Corp. (TIE)” between January 2008 and December 2012.
Provincial court docket Choose Mike Dinkel, in accepting a joint submission from Crown prosecutor Yasifina Somji and defence counsel Shamsher Kothari, mentioned Fowler was motivated by greed.
Based on a press release of agreed info made an exhibit within the case, Fowler used greater than $1 million of the investments for his personal private way of life.
“It’s a matter of pure greed,” Dinkel mentioned. “He could not have benefitted from all the cash … however plenty of individuals benefitted from the cash and that’s pure greed.”
He famous Fowler’s conduct had a devastating impact on his victims, a lot of whom filed influence statements with the court docket.
Fowler’s confederate, Douglas Schneider, was sentenced to a yr after pleading responsible in 2015.
KMartin@postmedia.com
On Twitter: @KMartinCourts
