first_img Share this article and your comments with peers on social media Retail trading surge on regulators’ radar, Vingoe says The court decision states: “Over a period of approximately eight years, Mr. Schoer lured long-time friends and clients who trusted him into sham schemes, resulting in significant losses for many victims. While some of the transactions were legitimate, the majority of the transactions about which the victims testified, were not.” In sentencing, Judge C.A. Gilmore largely sided with the defence, which argued that a sentence of four years’ incarceration “is appropriate and meets the principles of sentencing”; whereas the Crown argued that five years is an appropriate sentence. The Crown also sought more than $400,000 in restitution and a fine for the same amount. The defence argued that the fraud totalled approximately $103,000, and the financial sanctions should be closer to that amount. The court ordered $109,150 in restitution, saying that the case involves “an egregious breach of trust and what appears to be an inability to pay on the part of Mr. Schoer should not be the determining factor with respect to restitution.” Schoer was also ordered to pay a fine equivalent to the amount of restitution. He has six years to pay the fine, otherwise he faces another possible two year term in prison for failing to pay the fine within the required time. Payments made on the fine will reduce the amount of restitution dollar for dollar, the court decision says. “The fine will be paid in full upon payment of the restitution,” the decision adds. The Investment Industry Regulatory Organization of Canada (IIROC) in 2011 permanently banned Schoer and ordered him to pay a fine of $200,000 and costs of $100,000, after finding that he violated IIROC rules in carrying out a “Ponzi-like” scheme. See: Toronto broker banned for running “Ponzi-like” scheme Schoer initially sought to appeal the IIROC ruling to the Ontario Securities Commission (OSC), but after several adjournments in that process, the OSC in 2013 denied a further adjournment request from Schoer. Related news Imposters among us, CSA warns DoJ launches task force to tackle Covid-19 fraud A former investment advisor in Ontario has been sentenced to four years in jail, fined and ordered to pay restitution, after being convicted on one count of fraud. The Ontario Superior Court of Justice on Feb. 12 ordered that Roger Schoer spend four years in prison and pay $109,000 in restitution after he was convicted of one count of fraud over $5,000 on Aug. 6, 2015. He was acquitted on two other counts. Keywords Fraud James Langton Facebook LinkedIn Twitterlast_img read more

Posted in yizmlxvh

first_imgAustralian organisation Mindfreak has extended its partnership with ASTRO Gaming for a fifth successive year.The deal sees Mindfreak’s players continue to use headsets from ASTRO Gaming and peripherals from Logitech G.Photo credit: ASTRO GamingRELATED: ASTRO Gaming and Gears Esports extend partnership into 2020The deal covers all of Mindfreak’s existing rosters. At the time of writing, the organisation competes in Call of Duty, Rocket League, and Overwatch.Albert Nassif, CEO of Mindfreak, commented on the renewal in a release: “This year Mindfreak is turning 10 years old, and we couldn’t be more excited to continue our partnership with ASTRO and Logitech G into 2020 and beyond. Having joined the #ASTROfamily five years ago, things have gone from strength to strength with our partnership flourishing when becoming part of the Logitech family.“The constant encouragement and inspiration from the ANZ team have positioned Mindfreak for many more years of success.”RELATED: ORDER gears up with Logitech G partnershipAs well as its ongoing relationship with Logitech and ASTRO Gaming, Mindfreak is partnered with KontrolFreek. Fellow Australian organisation ORDER partnered with Logitech G in March.Damian Lepore, Managing Director of Logitech ANZ, also spoke on the extension: “ASTRO has seen Mindfreak continue to evolve and thrive over the last five years in the ANZ esports community. We are excited to continue this partnership and support the growth of esports locally.”Esports Insider says: The Oceanic region has received more attention than ever in recent times but Logitech has been supporting the likes of Mindfreak for years now. It’s great to see it continue through this storied partnership, which is likely to be classed as ‘long-term’ in the context of esports at this point.Read The Esports Journallast_img read more

Posted in kunijngs