National News

BCSC panel finds notary committed fraud

By The Canadian Press

VANCOUVER - The British Columbia Securities Commission has ruled that a Vancouver woman tricked about 200 investors out of at least $100 million over several years.

It says that Rashida Samji lied when she told the investors that their money would be put in a separate trust fund used by her notary practice and earn interest while indirectly assisting a winery to raise funds.

Instead, the BCSC found that there was no winery, that Samji never deposited the money into the trust account and that she used the money to pay the investors interest and for her own purposes — a type of fraud known as a Ponzi scheme.

A panel of BCSC commissioners found, however, that there was insufficient evidence to support allegations that Samji had also sold false mortgages to two investors.

The panel came to its conclusions after hearings held in November, December and March. The BCSC will decide on penalties later.

Samji also faces criminal charges filed by police in November and a class action civil suit that was certified in September by the B.C. Superior Court.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Hunters protest shift favouring non-residents
Part III: Youth Dealing with Depression
Opinion: The pain and joy of Christmas
Surrey murder victim identifed as Jaylen Sandhu, 17
Local 10-year-old declares the right to a healthy environment
Surrey RCMP officer to stand trial on multiple gun charges
Charges laid in fatal hit-and-run
Lava slows but still on track to hit Hawaii market
Sentencing today for woman who helped ducks

Community Events, December 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Dec 19 edition online now. Browse the archives.