Hearings have been scheduled, in Superior Court, in Toronto, Canada, during the month of September, in two cases, filed against securities brokers, involving millions of dollars in missing client investments and cash. The cases are Lawrence Heath, et al vs. Northland Wealth Management Inc., Case No. CV-16-550303 (Ont. Sup. Ct.) and Lawrence Heath vs. Leon Frazer and Associates, Inc., Case No. CV-16-548521 (Ont. Sup. Ct.).
Lawyers for Lawrence Heath QC, a retired Canadian attorney, has been seeking for months, without success, copies of the records of these two Ontario-based broker-dealers, regarding his accounts. Several million dollars (USD) are missing, and a financial service professional in the Cayman Islands, Sharon Lexa Lamb, has stated that she had written authorization, from Northland, and Leon Frazer, to transfer funds to a shell company, operated by the fugitive broker, Alberta native, Ryan Bateman. Ms. Lamb is presently a defendant in a civil suit pending in the Cayman Islands, regarding the missing securities and cash, and has, interposed, in her defense, this authorization.
Ms. Lamb and Mr. Bateman, together with PEI resident, Derek Buntain, are missing, and cannot be located. Their theft of a reported $450m in client money and securities, popularly known as the Cayman Gang of Four scandal, has roiled the Cayman Islands this year, after the local regulatory authority, CIMA, and the police agency, RCIPS, ignored victim requests to bring criminal charges, for acts which occurred solely in Grand Cayman.
|Lamb, Bateman, Buntain|
The hearings this month are reportedly continued efforts to obtain complete records of the plaintiff's securities transactions, in his accounts, and transfers of his assets, which have been alleged to be improper, and unauthorized. Both Northland Wealth Management, and Leon Frazer, failed to turn over client records, upon demand, necessitating the filing of the named lawsuits.