July 18, 2006
BCSC EXECUTIVE DIRECTOR’S BULLETIN:
Vancouver – The Executive Director of the
British Columbia Securities Commission has issued a notice of hearing
alleging that Ian Gregory Thow violated securities laws and perpetrated
a fraud on B.C. investors.
The notice of hearing says that,
from January 2003 to May 2005, Thow told clients he was able to invest
money for them in various securities, including shares in the National
Commercial Bank of Jamaica, an initial public offering, and mortgages.
It is alleged that Thow’s representations were false and that he used
some or all of the clients’ money for his personal use.
The notice alleges that Thow breached the Securities Act and related
rules by: failing to deal fairly, honestly and in good faith with his
clients; trading in non-mutual fund securities for which he was not
registered; making misrepresentations in the selling of securities; and
perpetrating a fraud on investors in B.C. and elsewhere.
These allegations have not been proven. Counsel for the Executive
Director will apply to set dates for a hearing into the allegations
before a panel of commissioners.
The B.C. Securities Commission is the independent provincial government
agency responsible for regulating trading in securities within the
province. You may view notices of hearings on our website
If you have questions, contact Andrew
Poon, Media Relations, 604-899-6880.