2 Calgary men wanted for securities fraud
Ken Fowler and Douglas Schneider accused of misleading mortgage company investors
An arrest warrant has been issued for two Calgary men wanted for securities fraud.
The charges relate to the selling of securities for the Investment Exchange Mortgage Corporation, or TIE Mortgage.
Ken Fowler and Douglas Schneider are also charged with unregistered trading and making misleading statements to investors.
The Alberta Securities Commission (ASC) issued a cease-trading order for TIE Mortgage in November 2012.
Investors contributed more than $27 million to the company — money that was supposed to be invested in short-term loans, according to a court-appointed inspector.
The ASC says the men's whereabouts are unknown.