CALGARY, Jan. 18, 2016 /CNW/ - The Alberta Securities Commission (ASC) today announced the arrest of Kenneth Charles Fowler in Mexico and his return to Canada to face securities charges. On January 24, 2014, the ASC charged Fowler and Douglas Wayne Schneider in the Provincial Court of Alberta with fraud and other securities offences in relation to the sale of The Investment Exchange Mortgage Corporation (TIE) securities. At that time, Canada-wide arrest warrants were also issued for the two men.
Schneider was arrested and detained in the United States on February 28, 2014 and extradited to Canada in June 2014. He pled guilty in July 2015 to making misleading statements, trading in securities without registration, and trading in distributions of securities without a prospectus. He was sentenced to one year in jail (with credit given for time already served) for his role in TIE Mortgage.
Based on information provided by the ASC, on January 13, 2016, Fowler was arrested by Mexican immigration authorities as he was illegally residing in Ensenada, Baja California, Mexico. He was deported to and arrested in Vancouver on January 14, 2016. Fowler is expected to be transported to Calgary this week, following which a bail hearing will be held.
The ASC gratefully acknowledges the assistance of the following agencies in the detention and deportation of Fowler: the Royal Canadian Mounted Police; Canada Border Services Agency; INTERPOL Ottawa; Alberta Sheriffs Branch; Instituto Nacional de Migracion; Fuerzas Armadas de México; and local, state and federal Mexican law enforcement agencies. The ASC also gratefully acknowledges those members of the public who came forward with information that allowed the ASC to confirm Fowler's location.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
SOURCE Alberta Securities Commission
For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, 403.297.4481; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488