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Andrew A. Duffy
Times Colonist
Saturday, February 16, 2008
Disgraced investment adviser Ian
Thow is appealing the record fine
handed down by the B.C. Securities
Commission in December.
Thow has appealed the $6-million
fine and lifetime ban from B.C.'s
capital markets to the B.C. Appeals
Court through his lawyer, Rod
Anderson of Harper Grey LLP in
Vancouver.
Anderson is the same lawyer Thow
hired when rumblings of his
investment practices first became
public in summer 2005.
Thow's former clients and creditors
claim he bilked them out of more
than $32 million by convincing them
to invest in schemes that ranged
from a Jamaican bank to loans for
Vancouver developers and seed shares
with Berkshire Investment Group, his
former employer.
A Securities Commission hearing
followed the trail of $6 million of
those losses and found Thow never
made the investments and instead
used the money to pay for his lavish
lifestyle. The commission concluded
then that Thow's actions represented
"one of the most callous and
audacious frauds this province has
seen."
Anderson could not be reached at his
offices yesterday, and calls to Thow
were not returned.
However, in an interview with the
Times Colonist last fall, Thow said
he considered the Securities
Commission proceedings to be a
kangaroo court where he could not
defend himself, and that there was
still another story to be told about
the saga.
Thow said he could not enter Canada
to defend himself as there is a
civil warrant out for his arrest
stemming from allegations he removed
property from his home without the
permission of the trustee overseeing
his bankruptcy.
Thow has been living in Seattle
since summer 2005.
aduffy@tc.canwest.com
© Times Colonist (Victoria) 2008
Copyright © 2008 CanWest
Interactive, a division of CanWest
MediaWorks Publications, Inc.. All
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