West Vancouver man charged with fraud and violating a BCSC order

VANCOUVER, BC, July 7, 2023 /CNW/ - A West Vancouver man has been charged with three counts of fraud and two counts of breaching an order, following an investigation by the Criminal Investigations Branch of the B.C. Securities Commission (BCSC).

Frederick Johnathon Nielsen (aka Fred Gilliland) was served July 6 with a summons to appear in Vancouver Provincial Court on August 2 to answer to the charges. He is accused of fraud and breaching an order under B.C.'s Securities Act for actions he allegedly took in 2018 and 2019.

In 2017, Nielsen pleaded guilty to breaching a 2011 BCSC order that had banned him from various market activities for 25 years. He was sentenced to six months in jail and ordered to pay $10,000 in restitution.

The charges have not been proven.

The BCSC would like to thank the West Vancouver Police Department for its assistance in this matter.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:

• A securities market that is fair and warrants public confidence
• A dynamic and competitive securities industry that provides investment opportunities and access to capital.

Learn how to protect yourself and become a more informed investor at www.investright.org.

SOURCE British Columbia Securities Commission