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Registered retirement accounts are fair game: Enhanced tools for securities regulators to fight white-collar crime
Canada
December 14 2020
In November 2020, the British Columbia Securities Commission (the “Commission”) dismissed an application brought by Earle Pasquill for an order to revoke a preservation order made under the British Columbia
In 2014, the Commission found that Pasquill and Michael Lathigee, who jointly directed and controlled the Freedom Investment Club group of companies (“FIC Group”), perpetrated a fraud by misleading investors and misusing investment funds. In one of British Columbia’s largest frauds, Pasquill and Lathigee raised $21.7 million from nearly 700 Canadian investors without disclosing important facts about FIC Group’s financial circumstances. DLA Piper’s case comment on the Lathigee case can be found here.