Kenneth Charles Fowler has been sentenced to three years of imprisonment by Alberta Provincial Court after pleading guilty to charges of fraud, trading in securities without registration and illegal distribution of securities in relation to the sale of securities of The Investment Exchange Mortgage Corporation (TIE Mortgage).
In addition, Fowler is banned from acting in any capacity that would require registration; denied from relying on any or all exemptions in Alberta securities laws, except for one account through a registrant who has first been given a copy of this Order; prohibited from engaging in investor relations activities; and prohibited from becoming or acting as a director or officer of any issuer. He is also obliged to resign from any positions he holds as director or officer of any issuer.
Was not registered with the ASC
Fowler admitted that he was not registered with the Alberta Securities Commission as a salesperson to trade in securities and no prospectus was filed with the ASC for distribution of TIE Mortgage securities. Fowler used money raised from investors to support his personal lifestyle, day trading, and to make payments to other investors as dividends and redemptions.
On March 16, 2017, Fowler pled guilty to fraud in relation to the sale of securities of TIE Mortgage, unregistered trading in TIE Mortgage securities and engaging in an illegal distribution of those securities.