British Columbia Securities Commission panels have reciprocated an enforcement order against a former Investor’s Group advisor convicted by the Provincial Court of British Columbia.
Under a section of the Securities Act that allows the commission to issue enforcement orders based on criminal convictions, a commission panel permanently banned Rod Woodward, who was found guilty by the Provincial Court of two counts of theft over $5,000 and two counts of fraud in excess of $5,000.
The Provincial Court found that Woodward, while employed as a financial advisor with Investor’s Group in 1999 and 2000, deposited $185,000 of clients’ money into his own bank account rather than investing the funds in a company called Black Sea Minerals Incorporated.