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.