And why would no criminal charges be laid?

[JLM]

David Michael Michaels guilty of $65M investment fraud - British Columbia - CBC News


How can one steal $65 and lie about it and not commit a crime? The justice system appears to be just as sleazy as the criminals!

 

[petros]

He gave financial advice. It was the choice of the victim to accept the advice. It's a two way street.

 

[JLM]

He gave financial advice. It was the choice of the victim to accept the advice. It's a two way street.

Good way to find oneself taking a long walk on a short pier in seement shoes!

 

[IdRatherBeSkiing]

Lifetime ban from selling securities .... yet he was selling unregistered before. He will keep on doing it. No penalty.

 

[QuebecCanadian]

David Michael Michaels guilty of $65M investment fraud - British Columbia - CBC News


How can one steal $65 and lie about it and not commit a crime? The justice system appears to be just as sleazy as the criminals!

It says he was found guilty of fraud (which is criminal, is it not?) but I see no mention of penalty or sentence. What, did they send him to bed without supper?

Very strange and incomplete story.

 

[damngrumpy]

No charges filed, maybe there will be the cops are likely in shock.
What responsibility would the station have for due diligence you
would think the checked the guy out.
I will give you profit like never before, he was a personable guy
and the list goes on. Con men are all of those things.
Wouldn't people check out who they're dealing with?
Think of this if the bank and other institutions are giving lower
percentages and someone is giving you more than ever before
YOU ARE HIGH RISK.
I have a problem feeling sorry for them they wanted more than
anyone else and that is greed. My father died at 96 and he told
me the greedy and the so called insider informed is the oldest
scam in the world. The other scam is the one through church
inspired investments. There was one a few years back in the
Okanagan where people were screwed twice by the same people.
They said the Holy Spirit was behind it.
My dad had the same opinion I do I have a hard time feeling sorry
for them they didn't do their homework

 

[Twila]

Good way to find oneself taking a long walk on a short pier in seement shoes!

That would get you charged.

 

[taxslave]

It says he was found guilty of fraud (which is criminal, is it not?) but I see no mention of penalty or sentence. What, did they send him to bed without supper?

Very strange and incomplete story.

Being found guilty by the SEC isn't like being found guilty in a real court. Might carry some weight in civil court but it is much like being found guilty of something by the UN.

That would get you charged.

Only if they find a carcass.

 

[JLM]

No charges filed, maybe there will be the cops are likely in shock.
What responsibility would the station have for due diligence you
would think the checked the guy out.
I will give you profit like never before, he was a personable guy
and the list goes on. Con men are all of those things.
Wouldn't people check out who they're dealing with?
Think of this if the bank and other institutions are giving lower
percentages and someone is giving you more than ever before
YOU ARE HIGH RISK.
I have a problem feeling sorry for them they wanted more than
anyone else and that is greed. My father died at 96 and he told
me the greedy and the so called insider informed is the oldest
scam in the world. The other scam is the one through church
inspired investments. There was one a few years back in the
Okanagan where people were screwed twice by the same people.
They said the Holy Spirit was behind it.
My dad had the same opinion I do I have a hard time feeling sorry
for them they didn't do their homework

I often wonder what became of those two lesbians who ripped off the Royal Bank in Penticton about 1964 for $492,000. They bought a swanky house in Naramata with gold faucets and flew to Europe for weekends.