Canadian adviser repays $1.6 million fraud

A Montreal-based financial adviser has been ordered to make a payment of CA$1.6 million to reimburse the corporate regulator for compensation paid to aggrieved former clients.

The Canadian Superior Court ordered former adviser Carole Morinville to repay L’Autorité des Marchés Financiers (AMF) – the Quebec securities regulator – the sum in repayment for compensation issued by the regulator to former clients of Morinville out of its indemnity fund.

Ms Morinville was found to have operated a Ponzi scheme that victimised at least 32 investors, including Canadian actress Karine Vanasse.

Advertisement
Advertisement
Canadian adviser repays $1.6 million fraud
default
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

from the web

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.