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Securities regulator gives notice of a hearing into alleged fraud by former Vancouver Island mutual fund salesperson

July 18, 2006


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.



Ian Thow takes flight