B.C. Securities Commission and Nanaimo RCMP arrest Nanaimo man for fraud and theft

VANCOUVER, March 28, 2012 /CNW/ - The British Columbia Securities Commission's Criminal Investigations Team and the Nanaimo RCMP have arrested a Nanaimo man for allegedly defrauding investors of more than $2 million.

On March 16, the BCSC's Criminal Investigations Team and the Nanaimo RCMP arrested Michael Chodorowski at the Nanaimo airport based on a Canada-wide warrant. The arrest took place without incident, and followed a lengthy and complex investigation conducted jointly by the BCSC and the Nanaimo RCMP.

Chodorowski has been charged by the BCSC with fraud and breaching the Securities Act. The RCMP have charged Chodorowski under the Criminal Code with four counts of fraud over $5,000, three counts of theft over $5,000, and one count of laundering the proceeds of crime.

The charges against Chodorowski have not been proven.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province.

For media enquiries, contact Richard Gilhooley, media relations, 604-899-6713. For public enquiries, call 604-899-6854 or 1-800-373-6393 (toll free).

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

Contact: Richard Gilhooley
604-899-6713 or
(Canada) 1-800-373-6393