One of the major questions on the mind of everyone familiar with the Cayman Gang of Four $450m account theft is who will ultimately be charged with a crime, for their role in the brazen theft of the investment accounts, of more than a reported sixty Canadian retirees and pensioners. Inasmuch as the responsibility, as wealth managers, lies directly with the senior officers at Northland Wealth management, Inc., most observer believe that, at the end of the investigation, Northland's President, Paul Mascard and its CEO & CIO, Arthur Salzer, will be indicted.
There are several acts, committed at Northland that appear to each give rise to criminal liability:
(1) Authorizing two of Cayman Gang of Four fraudsters, Dundee Bank president, Derek Buntain, and Senior Vice President, Sharon Lexa Lamb, to transfer client funds out of a financial institution, to a shell company, B & C Capital, Ltd., operated by a fugitive, Gangster Ryan Bateman, without written & signed client authorization. This is a breach of a fiduciary duty, owed to clients, to protect
|Cayman fraudsters: Bateman, Lamb & Buntain|
(3) Failing to give clients, which were victims of Cayman Gang of Four fraud, their account statements, and their wealth management contract with Northland. It has been theorized that the form contracts do not permit any of the illegal, unauthorized acts, which were committed by Northland's officers, and for that reason they fear supplying clients, or their attorneys, with the documents. This is another violation of Canadian securities laws.
|Northland President Mascard|
(4) It is indicated by the investigation to date that there was a major, unauthorized, investment in the securities of a US company, and that Arthur Salzer is the legal owner of those securities, again without client knowledge or approval in writing. This is Grand Theft.
|Northland CEO/CIO Salzer|
|For the convenience of our readers in Canada, the case number.|