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Canadian independent financial adviser arrested

By Cristian Angeloni, 15 Nov 19

For allegedly defrauding 24 investors of C$2m

Former boss of Chinese insurer Anbang jailed for 18 years

A Canadian financial adviser has been arrested and charged with fraud after conning victims out of over C$2m (£1.1m, $1.5m, €1.3m), the police allege.

Vincent John Mullee, resident of Saskatoon in central Canada, was taken into custody following a joint investigation between the local police and the Royal Canadian Mounted Police (RCMP).

The investigation started in June 2018 when Canada’s Financial and Consumer Affairs Authority (FCAA) started looking into the former adviser and his business.

There were 24 victims: 13 local and 11 from the Saskatchewan and British Columbia.

Mullee was arrested and charged with criminal breach of trust, fraud and laundering proceeds of crime on 13 November 2019.

He appeared in court on 14 November and is expected to make a second appearance on 28 November 2019.

Tags: Fraud

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.