Kenneth Charles Fowler has pled guilty in the Provincial Court of Alberta to three counts of breaching Alberta securities laws, announced the Alberta Securities Commission March 17.
Fowler pled guilty to one count each of fraud in relation to the sale of securities of The Investment Exchange Mortgage Corporation (TIE Mortgage), unregistered trading in TIE Mortgage securities and engaging in an illegal distribution of those securities.
On Jan. 24, 2014, the ASC charged Fowler and co-accused Douglas Schneider in the Provincial Court of Alberta for breaching Alberta securities laws in relation to the sale of TIE Mortgage securities. At that time, arrest warrants were also issued for both men.
Co-accused sentenced to one year in jail
Schneider was arrested and detained in the United States on February 28, 2014 and extradited to Canada in June 2014. He pled guilty in July 2015 to making misleading statements, trading in securities without registration, and trading in distributions of securities without a prospectus. He was sentenced to one year in jail (with credit given for time already served) for his role in TIE Mortgage.
Based on information provided by the ASC, Fowler was arrested in Mexico and returned to Canada to face these charges in Jan. 2016. Sentencing is scheduled for June 2, 2017.