Fugitive accused of fraud in B.C. waives right to extradition hearing
A man who is allegedly behind what's been called one of the most audacious frauds in British Columbia has given up his right to an extradition hearing after being arrested in the United States.
Ian Thow could be back in B.C. to face 25 fraud charges within days.
Thow was arrested last month by U.S. marshals as he left his Portland condominium to go jogging.
Before leaving Canada in 2005, Thow allegedly convinced people to invest in securities that did not exist and spent the money on a lavish lifestyle.
Acting Sgt. Sammy Wu, with the Vancouver Integrated Market Enforcement team, said Thow waived his right to the extradition hearing and will be brought back to Canada as soon as the details are ironed out with U.S. officials.
In December 2007, the B.C. Securities Commission imposed a $6 million fine against Thow and banned him from the securities industry. The fine was later reduced to $250,000 by a B.C. court.