Calgary man who defrauded investors of $12.5M might be at it again, securities commission warns

A Calgary man who serveda three-year sentence for fraud is underinvestigation again, suspected of targeting seniors, according to the Alberta Securities Commission.

In 2017, Kenneth Charles Fowler, 71, pleaded guilty to three charges under the Securities Act, including fraud, after he admitted to defrauding dozens of investors out of $12.5million.

As part of his sentence, Fowler was banned from trading in Alberta or engaging in investor relations.

Investigators now believe Fowler solicited funds frominvestors over the past two years by telling people he is Ken Davidson, associated with Finkle Street Trading Company.

At least 1 victim identified

At least one victim has been identified, accordingtothe ASC, which warns there may be other Calgary victims, including seniors.

The securities commission is interested in speaking to anyone who has been approached by Fowler/Davidson to invest with Finkle Street Trading.

• Kenneth Fowler sentenced to 3 years for $12.5M mortgage scheme

In 2017, theTIE Mortgage owner pleaded guilty to offences that related to illegal activity between 2008 and 2012.

Fowler fled to Mexico, where he hid for two yearsafter the charges were laid. He was extradited back to Canada in 2016.

As part of the plea, Fowler admitted he hadused more than$1 million for his own benefit.

According to one of his victims, Fowlerbought his wife a diamond ring for $125,000, a Porsche and a house in Palm Springs.

The ASC is asking anyone with information on Fowler to contact the commission at 1-877-355-4488.

The TIE Mortgage fraud was co-orchestrated withDouglas Schneider, who pleaded guilty toSecurities Act charges in 2015 and was sentenced to a year in jail.