June 26, 2008 - Vancouver. Ian Gregory THOW, formerly of Victoria, B.C. was formally charged on June 9, 2008 with 25 counts of Fraud over $5,000 as a result of an investigation conducted by the Vancouver Integrated Market Enforcement Team (IMET) with assistance of the Victoria Police Department and the Federal Bureau of Investigation (FBI).
IMET began investigating Mr. THOW in the summer of 2005 based on a complaint received from Berkshire Investment Group (Berkshire). Mr. THOW was a registered representative and licensed mutual fund dealer who managed the Berkshire office in Victoria, B.C. between January 2003 and June 2005.
This is a multi-jurisdictional investigation involving numerous victims. The amount of investors' loss was valued at approximately $10 million. Inspector George Pemberton, Officer-in-Charge of Vancouver IMET says, "Cases like this take a long time and a lot of work and commitment from many people to reach this stage. For the sake of the victims, I'm pleased that we're moving forward with the court process."
Created in 2003, IMETs are specialized units funded by the Federal Government to investigate capital markets fraud. IMET's mandate is to enhance the protection of Canada's capital markets through the detection and prevention of serious corporate and financial market crime.
National IMET Program Leader Stephen White says, "I am proud of the work that our teams are doing across Canada. This investigation demonstrates that the IMETs are an important and effective partner in ensuring the integrity of Canada's capital markets."
For more information, please contact :
Vancouver IMET Acting Sergeant Sammy WU : 604-602-4470
