A Kelowna lawyer has been stripped of his rights to practice law. On Monday, the Law Society of B.C. disbarred Doug Welder after finding he had committed professional misconduct in relation to a Ponzi scheme. In its decision on disciplinary action, the law society says Welder was acting for a company, called International Fiduciary Corporation (IFC), that was being investigated by the B.C. Securities Commission (BCSC).
In its decision, the law society states that “on November 1, 2006 the BCSC issue[d] a cease trading order (“CTO”) prohibiting further investments in the IFC. The evidence
established that the Respondent knew of the CTO, even to the extent of opening a file on November 7, 2006 for one of the principals of IFC and identifying the matter as “BCSC Cease Trade Order.”
Neetu Garcha – Global News – July 17, 2015.
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