This is a reblog from September on my other blogging website. I think it’s important to be transparent as a writer, and thought my followers should know the information in this.
September 20, 2019
Vancouver– The British Columbia Securities Commission imposed a total of $1.7 million of financialsanctionson three B.C. men and two mortgage investment companies after finding that they committed fraud.
Patrick K. Prinster and David Scott Wright were each ordered to pay $250,000 and Donald Bruce Edward Wilson was ordered to pay $150,000 for diverting investors’ funds from mortgages secured by real estate, which was the purpose described in marketing materials.
The panel also permanently banned Prinster, Wright and Wilson from the following activities:
- Trading in or purchasing securities or exchange contracts
- Using exemptions set out in theSecurities Act
- Becoming or acting as a registrant or promoter
- Acting in a management or consultative capacity in the securities market
- Engaging in investor relations
The panel noted that Prinster, Wright and Wilson diverted the funds and carried out their misconduct “despite warnings and concerns expressed…
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