B.C. man accused of misusing $450,000 of investors’ money

The B.C. Securities Commission alleges William Wade Furman got eight investors to contribute money

A B.C. man is accused of raising nearly half a million dollars from investors for day trading, but instead, spending some of the cash on his own bills, retail purchases and paying back other investors.

The B.C. Securities Commission alleged in a news release Tuesday that William Wade Furman collected $452,000 from eight investors while living in B.C. between 2012 and 2014.

Furman is believed to have raised the money by “falsely claiming that he was a successful, licensed day-trader and that he would use their money to day-trade on their behalf.”

He raised the money through two companies he incorporated, the release said, called Liquidus Holdings Inc. and Liquius Capital Inc.

However, he was never actually registered under the Securities Act. He used half of the money to day-trade, the release said, and used the rest for cash withdrawals, retail and bill purchases and repayments to other investors and himself.

Furman also misled investors by providing fabricated monthly reports that showed how his trades were performing, the release said. Reports were published on the letterhead of a registered investment dealer.

Since 2014, he has repaid a total of $41,150 to the investors involved.

These allegations have not been proven in court.

Furman faces an appointment with the executive director of the commission on April 10 before a date is set for a hearing.


Like us on Facebook and follow us on Twitter.

Just Posted

Influx of funding means new projects, upgrades coming to Bella Coola and Central Coast

The Central Coast Regional District confirmed it will be receiving just over $6 million in funding

Three percent accommodation tax approved for Bella Coola accommodation providers

Only fixed-room accommodation providers with four rooms or more are required to charge the tax.

U.S. consulate general to visit Northwest

Trip part of the region’s first-ever pop-up consul for American residents

B.C.’s north heats up to record highs

Bella Bella, Masset, Prince Rupert and the Cassiar Area all broke records

Sealed DNA in Phillip Tallio murder case must be released, orders Judge

A unanimous decision by B.C. Court of Appeal judges has ordered the release of a sealed DNA sample

Vancouver Aquarium’s resident octopus released into ocean

Staff let the Giant Pacific octopus go into the waters near Bowen Island so she can reproduce

B.C. umpire has developed thick skin after 30 years listening to insults

Scott McLaren pays no mind to comments from the cheap seats

Musicians Sarah Harmer, Grimes join B.C. anti-pipeline protests

Musicians are in Vancouver for the Juno Awards on Sunday night

Canadian cities hold March for our Lives events in wake of Florida shooting

Hundreds of people support the massive March for Our Lives event in Washington, D.C.

Health officials called after acid spill near B.C.-Alberta border leaks into creek

Tanker truck crashed south of Dawson Creek, spilling 17,000 litres of hydrochloric acid

Embattled band Hedley plays last show in B.C. before hiatus

About 3,000 tickets had sold for final performance at Kelowna’s Prospera Place

Trudeau to exonerate B.C. First Nations chiefs hanged in 1860s

Prime Minister to absolve Tsilhqot’in chiefs in relation to deaths of 14 construction workers

Canucks sing the Blues as they fall to St. Louis 4-1

Berglund nets two, including the game-winner, to lift St. Louis over Vancouver

Calving season brings hope for Cariboo ranchers

Still a lot of work ahead to recover from the wildfires

Most Read