Alberta man charged with fraud and theft from investors

By Staff | August 28, 2018 | Last updated on August 28, 2018
1 min read

An Alberta man was criminally charged with fraud and theft related to an alleged investment fraud, the Alberta Securities Commission and Alberta RCMP said Monday.

Shaun Wayne Howell, from Drayton Valley, Alta., was charged with three counts of fraud and three counts of theft over $5,000, the ASC said in a release.

The regulator and Alberta RCMP allege Howell “fraudulently raised approximately $200,000 from six different investors between September 2013 and February 2015 in Red Deer, Alberta.”

The allegations have not been proven. Howell is scheduled to appear in Red Deer Provincial Court on Oct. 26.

Previous settlement agreement with IIROC

Howell was a registered representative with RBC Dominion Securities Inc. from 2008-2015. As part of a settlement agreement with IIROC in November 2016, he admitted to soliciting approximately $692,000 from clients to invest in securities from 2008-2015, which he instead put into a personal bank account.

In the same agreement, Howell admitted to borrowing $50,000 from a client without his firm’s knowledge.

An IIROC hearing panel fined Howell $500,000 and permanently banned him from registering with IIROC in any capacity.

Read the settlement agreement here. staff


The staff of have been covering news for financial advisors since 1998.