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Thow appeals record fine

Vancouver lawyer submits papers

Andrew A. Duffy
Times Colonist

Saturday, February 16, 2008

Disgraced investment adviser Ian Thow is appealing the record fine handed down by the B.C. Securities Commission in December.

Thow has appealed the $6-million fine and lifetime ban from B.C.'s capital markets to the B.C. Appeals Court through his lawyer, Rod Anderson of Harper Grey LLP in Vancouver.

Anderson is the same lawyer Thow hired when rumblings of his investment practices first became public in summer 2005.

Thow's former clients and creditors claim he bilked them out of more than $32 million by convincing them to invest in schemes that ranged from a Jamaican bank to loans for Vancouver developers and seed shares with Berkshire Investment Group, his former employer.

A Securities Commission hearing followed the trail of $6 million of those losses and found Thow never made the investments and instead used the money to pay for his lavish lifestyle. The commission concluded then that Thow's actions represented "one of the most callous and audacious frauds this province has seen."

Anderson could not be reached at his offices yesterday, and calls to Thow were not returned.

However, in an interview with the Times Colonist last fall, Thow said he considered the Securities Commission proceedings to be a kangaroo court where he could not defend himself, and that there was still another story to be told about the saga.

Thow said he could not enter Canada to defend himself as there is a civil warrant out for his arrest stemming from allegations he removed property from his home without the permission of the trustee overseeing his bankruptcy.

Thow has been living in Seattle since summer 2005.

Times Colonist (Victoria) 2008

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CanWest Interactive, a division of CanWest MediaWorks Publications, Inc.. All rights reserved.



Ian Thow takes flight