Alberta Securities Commission cracks down on white-collar crime

The Alberta Securities Commission is taking a tougher stance on white-collar crime.

The regulator says it has begun taking serious cases of investor fraud toprovincial court to seek more severe sanctions, like jail time.

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Last week, the regulator eventook the unusual step of extraditing Douglas Schneider from California.

He and his associate Ken Fowler are accused of milking investors for close to $30 million.

A warrant is still out for Fowler's arrest.

One of the pair's alleged victims says hewas defrauded of $100,000 and is pleasedto see the Alberta Securities Commission cracking down.

"I think it's the right approach," saidJohn Roberts. "Go after these people, and I just hope the justice system recognizes this and levies harsh penalties for these people when they're apprehended."

The regulator says getting tough is simply a matter of trying to deter more people from white-collar crime.

It says some cases deserve more than market bans or fines.