Calgary-based financial advisor accused of multi-million dollar fraud
A file photo of an RCMP cruiser. (Sean Amato/CTV News Edmonton)
CALGARY -
A 38-year-old Calgary man faces criminal fraud and secret commission charges following an investigation into alleged unauthorized trades from his clients' accounts.
The Alberta RCMP Integrated Market Enforcement Team launched an investigation into the trading activity of Jeffrey Ber after the Alberta Securities Commission flagged questionable practices.
Ber allegedly conducted trades in client accounts and downgraded client accounts without the knowledge of the clients or authority to act on their behalf. He allegedly sold blue chip stocks to purchase publicly-traded penny stock and received a secret commission for placing shares in the portfolios of his clients.
Ber is scheduled to appear in Calgary provincial court on July 19.
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