Rogues' gallery
Can You Trust Your Financial Advisor? [CBC, 10May09] "Have your investments lost money recently? Many Canadians facing serious financial hits on their life savings are starting to wonder how much they can really trust their financial adviser or broker. We bring you first-hand accounts of how big companies may be taking advantage of investors in small ways - and big ones too. And we debunk some of the myths surrounding those 'trusted people' who are investing your money."

Hiding in plain sight [Globe & Mail, 28Nov08] "To his clients, financial adviser Rae Cowan was a sweetheart of a man. Then came the news of his suicide and the disappearance of their life savings."

Hiding in plain sight [Globe & Mail, 31Aug07] "So it came as a major shock to many when, on Sept. 8, 2005, at 1:30 a.m., Thow fled Canada, crossing the border into the United States at Blaine, Washington, with a flourish of his U.S. birth certificate, just ahead of pursuing RCMP. Left behind were 73 former clients and friends—who claim he ripped them off for more than $32 million—and a growing pile of lawsuits."
BC fraudster gets 9 years for ripping off friends, family in Ponzi-like scheme [Canadian Press, 04Mar10] "A man who stole millions from his friends and family with what the judge called a 'rampant sense of entitlement' and 'unabashed greed' has been given a nine-year-prison sentence. B.C. provincial court Judge Jocelyn Palmer gave Ian Thow two more years in prison than what was agreed to in a plea bargain, saying the law couldn't possibly redress the harm done to his victims."

Collected woes [Globe & Mail, 24Nov06] "They mesmerized their followers in the business world with their brilliance-- until a brush with the law broke the spell. What became of these fallen titans? Our investigative reporter works his way through the entire set" [including more than a few from the financial services industry.]

Caveat Investor [Globe & Mail, 25Oct02] "Financial gurus like Brian Costello, Garth Turner and Jerry White say they're educating the public. Can they help it if their students fail disastrously?"

So, you think your money's safe [Globe & Mail, 26Mar99] "If you've ever bought mutual funds from an independent dealer or financial planner and wondered how safe your money is, [this story] might rattle you a little."

"Dr" Jerry White [Financial Post, 12Oct96] "Dr. Jerry White says he's on a mission from God to help people who attend his seminars become financially secure. Those who've examined his record and methods wonder who's really in need of some good advice."
"Prof" Jerry White [Toronto Star, 29Jan03] "Concordia objects to ad for seminar Financial speaker part-time lecturer"

Watchdog finds Costello broke law [Toronto Star, 20Feb03] "Personal finance speaker Brian Costello broke securities laws by recommending investments without being registered as an adviser, Ontario's stock market regulator has ruled."

Garth Turner (from CBC's Paying for Time)

Michael Holoday [Toronto Star] "Disgraced broker grew rich at his clients' expense."
Life after the big swindle [Financial Post] "Six years after he was jailed for fraud, Michael Holoday's high-flying habits still haunt him."


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