BCSC Issues $15m Penalty against Fraudulent Ponzi Scheme Operator

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BCSC Issues $15m Penalty against Fraudulent Ponzi Scheme Operator

Postby kreslik.news » Tue Aug 23, 2016 8:55 am


British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, hasissued financial sanctions and market bans against Thomas A Williams and his group of companies for fraud and illegal distributions.

Sanctions have also been issued for illegal distributions against several of the finders that Williams commissioned to help him raise money. 

Williams, a former registrant, controlled six entities collectively known as the Global Group of Companies.

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Ponzi Scheme

In January 2016, the BCSC found that Williams and the Global Group of Companies committed fraud, through ... (read more)

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