The B.C. Securities Commission has permanently banned two men from the province’s capital markets over what it says was one of the largest cases of fraud in British Columbia history.
The commission says Michael Lathigee and Earle Pasquill raised $21.7 million from almost 700 investors without telling them that their firm, the Freedom Investment Club Group, had severe cash flow problems.
Each man has been ordered to pay $15 million in administrative penalties to the commission, resign from any positions they hold as directors or officers and are banned from taking part in any market activity.
Canadian Press –Â March 27, 2015.
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