Sunday, November 13, 2022
HomeWealth ManagementVictoria man admits to misappropriating buyers’ funds

Victoria man admits to misappropriating buyers’ funds


The B.C. Securities Fee’s Felony Investigations Department led the investigation that led to the costs in opposition to Rochefort.

In 2008, Rochefort started working as a salesman at an actual property funding agency, which was elevating cash for a 160-acre property improvement in Alberta.

Below the phrases of his employment, he was entitled to 10% of the cash he made promoting the corporate’s securities. Rochefort acted as a dealer within the sale of those securities to a number of buyers.

Rochefort mediated quite a few offers for current buyers trying to improve their stakes in the actual property improvement agency between 2013 and 2016. He informed them to ship the cash to a B.C. firm, Reserve Cascadia Excursions Restricted, which was linked to Rochefort’s totally different enterprise endeavours.

Traders had been informed that the funds could be despatched on to the actual property improvement firm, the place they might be invested.

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