B.C. financier to plead guilty to using frozen bank account

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B.C. financier to plead guilty to using frozen bank account
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Scott Low faces one charge of a contravention of B.C.'s Securities Act.

A B.C. financier banned from trading is expected to plead guilty to withdrawing funds from a bank account subject to a B.C. Securities Commission freeze order.

“The charge, which has not been proven, is an offence under the act and carries the possibility of fines, imprisonment, probation and/or restitution orders,” the commission said. In addition, the panel ordered the companies’ former general manager, Darrell Wayne Wiebe, to pay $75,000 and banned him from B.C.’s investment markets for at least 10 years.

The other companies in the FS Group persuaded investors to buy securities in the form of unsecured loan agreements, with promises of annual interest of 10 per cent to 12 per cent, payable monthly.

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