OSC bans convicted fraudster

first_img BFI investors plead for firm’s sale Facebook LinkedIn Twitter Mouth mechanic turned market manipulator Reeve’s conviction stemmed from a scheme that involved soliciting investors to make various high-return, low-risk investments that were then diverted to purposes such as making repayments to other investors (often called a Ponzi scheme), to finance his failing businesses and to make spousal support payments.The OSC panel found that Reeve’s conviction involved securities, as the transactions in investment contracts met the legal test to qualify as securities. It ruled that a permanent ban was necessary.“I respectfully agree with Justice Skarica’s characterization of this matter as “an overwhelming case of fraud”,” Timothy Mosely, panel chairman, wrote in the panel’s reasons and decision, adding that the fraud involved a large number of victims, a large amount of money and a breach of trust which, “has the potential to affect investor confidence in investment firms and, ultimately, the Canadian financial system.”“This case is among the most serious to have come before the commission. Only a permanent ban on Mr. Reeve participating in the capital markets would adequately protect investors and those markets,” Mosely wrote.Reeve did not participate in the OSC’s proceedings. Related news Share this article and your comments with peers on social media An Ontario Securities Commission (OSC) panel has permanently banned a financial planner who is already serving a 14-year jail sentence for an “egregious” fraud that saw investors lose more than $10 million in an apparent Ponzi scheme, the OSC announced Tuesday.The panel banned Daniel Reeve, a planner in the Kitchener, Ont. area, from trading and registration on the strength of his conviction for fraud last year. On Oct. 13, 2017, Reeve was sentenced to 14 years in jail and ordered to pay $10.9 million in restitution to his victims after being convicted for defrauding at least 41 investors of between $10 million and $12 million. PwC alleges deleted emails, unusual transactions in Bridging Finance case Block letters spelling fraud, with magnifying glass andreypopov/123RF James Langton Keywords Fraud,  EnforcementCompanies Ontario Securities Commission last_img read more

John Plant Named Chairman of TRW

first_imgDeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. With more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit.  LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  LIVONIA, Mich. — TRW Automotive Holdings Corp. has announced that President and CEO John Plant has been appointed to the additional post of chairman of the board, effective immediately. AdvertisementClick Here to Read MoreAdvertisement Plant has held the position of president and CEO, serving as a member of TRW’s board, since 2003. As chairman, Plant replaces Neil Simpkins, senior managing director of The Blackstone Group, who resigned as chairman, but will remain on the board of directors and assume the newly created position of lead director. Simpkins was appointed chairman of the board in 2003 as a result of Blackstone’s majority purchase of the company at that time. Given Blackstone’s reduced ownership position, TRW’s board of directors agreed that the timing for this transition was appropriate.   “I am pleased and honored to assume the additional responsibilities as board chairman,” said Plant. “I thank Neil for his contributions and leadership over the years, which will continue in his new role as lead director.”,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisementlast_img read more

Call for crosses

first_imgTHE Upper Beaconsfield Anzac Day service boasted a strong turnout despite the weather, with local scouts taking part in the…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

Icon soon a memorial site

first_imgBy ANEEKA SIMONIS A BUILDING that provided shelter to locals during the Ash Wednesday fires in Cockatoo is soon to…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img