Advertisement

Calgary financial advisor charged with fraud after investors lose millions: RCMP

A Calgary-based financial adviser is facing fraud charges July 28, 2021. Getty Images

A Calgary-based financial advisor is facing charges in what RCMP are calling a multi-million dollar fraud and secret commission.

Following an investigation, the Alberta RCMP Integrated Market Enforcement Team (IMET) alleged 38-year-old Jeffrey Ber conducted trades in his clients’ accounts without their knowledge or consent.

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

MORE LOCAL NEWS: ‘Historic’ heat wave in Western Canada might not lift for days, forecasters say

IMET claims Ber downgraded some accounts, in some cases selling their blue-chip stocks to buy a publicly traded penny stock. The agency also alleges he was secretly paid to place a company’s shares into his clients’ portfolios.

Ber is charged with two counts of fraud over $5,000 and one count of secret commission.

He’s set to appear in Calgary provincial court on July 19.

Advertisement

Sponsored content

AdChoices