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 weekly money news
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.
- 4 dead, 17 wounded after being caught in crossfire in entertainment district in Birmingham, Alabama
- Hundreds defrauded in door-to-door Ontario scam, Canada-wide warrants issued
- Kenneth Law responsible for ‘luring’ Ontario teen into suicide death, parents allege
- Quebec’s public security minister accuses gangs of using teens ‘to do their dirty work’
Comments