Investors Scrutinizing the Regulators

Home Page


Securities Regulation In CanadA

Fox Guarding the Hen House


Receiver seeks arrest warrant for Ian Thow
Ex-investment adviser under investigation for fraud


Saturday, September 10, 2005

VICTORIA - An arrest warrant is being sought for former Victoria investment adviser Ian Thow, who crossed the U.S. border early Thursday with two truckloads of furnishings.
Michael Cheevers, of Wolrige Mahon Ltd., the receiver for the people owed money by Thow, said an application for the warrant has been made.

Cheevers said under the bankruptcy act it is not technically illegal to cross the border. It is, however, not permitted to take assets out of the country. Whether that provision of the bankruptcy act applies to Thow is something a judge will have to decide, he said.

"It is unusual for people who should be attending creditor's meetings to be going across the border like that," Cheevers said.

Thow left Canada at 1:30 a.m. on Thursday, crossing the border into the United States at Blaine, Wash. When he left he was under investigation for fraud by the RCMP and in the middle of a devising a payback scheme for people now contending they were taken for money by Thow.

The former senior vice-president with Berkshire Investment Group owes $42.9 million to a list of 111 creditors.