Man nabbed in Mexico to face securities fraud charges in Alberta

A man accused of securities fraud through the Alberta Securities Commission in 2014 continues to be arrested in Mexico and returned to Canada to face the costs.

Kenneth Charles Fowler and the other man, Douglas Wayne Schneider, were charged in January 2014 with fraud along with other securities offences in the Provincial Court of Alberta. The boys were accused regarding the the sale from the Investment Exchange Mortgage Corporation (TIE) securities.

Related

Man extradited to Canada from the U.S. sentenced to jail timeMan extradited from U.S. to manage charges of securities fraud in Alberta

“Based on information supplied by the ASC, on Jan. 13, 2016, Fowler was arrested by Mexican immigration authorities as he was illegally residing in Ensenada, Baja California, Mexico,” the ASC said inside a statement Monday.

The Canadian regulator said the public came forward with information “that allowed the ASC to verify Fowler’s location.”

He was deported to Vancouver, where he was arrested on Jan. 14, based on the ASC. He is to become transported to Calgary this week to manage a bail hearing.

Fowler was extradited from California in June 2014, with what was acknowledged at that time as an usual move for a Canadian regulator.

He pled guilty a year later to making misleading statements, trading in securities without registration, and exchanging distributions of securities with no prospectus. Fowler was sentenced to 1 year in prison, with credit given for time already served, for his role in TIE Mortgage.