Nackawic man guilty of securities fraud06 September 2012
FREDERICTON (GNB) – William Watson Priest of Nackawic pleaded guilty to nine charges of fraud under the New Brunswick Securities Act today in provincial court. He will be sentenced at a hearing at 1:30 p.m. on Friday, Sept. 28.
“We expect those who sell securities to comply with securities laws,” said Rick Hancox, executive director of the New Brunswick Securities Commission. “Defrauding investors will not be tolerated and can result in criminal charges.”
Priest pleaded guilty to defrauding several people by soliciting money for purported investment purposes but then using the money for personal and other purposes.
The New Brunswick Securities Commission is an independent provincial Crown corporation responsible for regulating trading in securities within the province. For more information about these matters, consult the commission's website.
Visit the Canadian Securities Administrators' Disciplined Persons List for information relating to persons disciplined by provincial securities regulators, the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada.
Being an informed investor is the best defence against investment fraud. Learn how to protect yourself by taking advantage of the materials available on the commission's website at: www.investinknowingmore.ca. The public may also contact the commission's investor services co-ordinator at 506-658-3060 or 1-866-933-2222 (toll-free) to get further information, to make a complaint or to express other investment-related concerns.