Ebene News – CA – Calgary Financial Advisor Charged With Alleged Multi-Million Dollar Fraud

A Calgary-based financial advisor has been accused of orchestrating a multi-million dollar fraud that saw him rewarded for allegedly moving funds from unsuspecting clients into a penny stock

Jeffrey Ber, 38, is charged with two counts of fraud over $ 5,000 and one count of a secret commission, the RCMP’s Integrated Law Enforcement Team said on Monday. Alberta in a press release

It is alleged that Ber initiated unauthorized transactions in clients’ accounts without their knowledge Some were downgraded without their consent and in some cases blue-chip stocks were sold to buy a penny stock listed in stock exchange, the statement read The investigation was launched following a referral from the Alberta Securities Commission

Investigators said Ber had received a secret commission from a company for placing his shares in his clients’ portfolios

“The charges laid in this investigation by IMET are an example of the RCMP’s commitment to hold accountable those who put Albertans’ finances at risk,” Insp Charlene O’Neill, the officer in charge IMET Calgary, said in the statement

“The long and arduous work of the investigators, combined with the help and collaboration of our partners, brought this case to court successfully.”

Sign up to receive daily news from the Calgary Herald, a division of Postmedia Network Inc

A welcome email is on its way If you don’t see it, please check your junk folder

Postmedia is committed to maintaining a lively but civil discussion forum and encourages all readers to share their views on our articles Comments may take up to an hour of moderation before appearing on the We You site. ask to keep your comments relevant and respectful We have enabled email notifications: you will now receive an email if you receive a response to your comment, if there is an update to a comment thread that you follow or if a user you follow comments Visit our community guidelines for more information and details on how to adjust your email settings

© 2021 Calgary Herald, a division of Postmedia Network Inc All rights reserved Unauthorized distribution, transmission or reproduction is strictly prohibited

This website uses cookies to personalize your content (including advertisements) and allows us to analyze our traffic Learn more about cookies here By continuing to use our site, you agree to our terms of use and our privacy policy

Calgary, Finance, Financial Advisor

Ebene News – CA – Calgary Financial Advisor Charged With Alleged Multi-Million Dollar Fraud

Source: https://calgaryherald.com/news/crime/calgary-financial-adviser-charged-in-alleged-multimillion-dollar-fraud