Kenneth Rijock

Kenneth Rijock

Monday, December 12, 2016


William Tynkaluk, who was with Leon Frazer & Associates, Inc. for more than fifty years, including a term as Chairman of the Board of Directors, admitted recently, during his examination under oath, that his former firm was liable to the plaintiff, retired attorney Lawrence Heath, in the second of three cases* that are collectively known in the press as the Cayman Gang of Four scandal. Leon Frazer refused, without cause, to deliver to the plaintiff his complete client account records, and after several months of  what can only be described as intentional delay, the plaintiff was forced to file his action, to compel the turnover of documents.

Tynkaluk, who generally goes by the name of Bill, was the personal wealth adviser of Mr. Heath; he testified that Leo Frazer's accounting department, whom he referred to as his "back-office," was responsible for illegally transferring out the plaintiff's entire retirement account, estimated to be as much as eleven million dollars ($11,000,000). He was examined as a witness, and is not a party to the civil suit, which seeks the production of documents and records of the plaintiff,  whose retirement accounts are now missing, and were fraudulently diverted, from his accounts at Leon Frazer, in a conspiracy with a number of dodgy offshore financial services operators, known as the Cayman Gang of Four. Two other civil suits are also pending, one also in Ontario Superior Court, and one in the Grand Court of the Cayman Islands.
At other times during the examination, Tynkaluk denied having any personal knowledge of the plaintiff's account, in which he had a fiduciary relationship, due to his advisory role with his client. Investigators familiar with the facts of the case, and who have been briefed on the details of the testimony, found that Tynkaluk's answers were inconsistent with documented statements he previously made, to eyewitnesses, in the past, and that any objective reader reviewing his recent testimony would find that he he is guilty of perjury, for many of his answers were untrue, and that he declined to answer questions that he has previously admitted having personal knowledge of, and has furnished those answers, which are admissions, and declarations against interest.

Though no responsive pleading has as yet been filed, on behalf of Leon Frazer, it appears that the company, who is strictly liable for the loss of any assets entrusted to it for management and safety, will reportedly attempt to shift the blame for the missing millions in funds, and securities, to Toronto Dominion Bank, also known as TD Bank, where the funds were on deposit, and to Northland Wealth Management, Inc., another securities firm, whose principals are all alumni of Leon Frazer and Associates, and which also has improperly refused to produce its books and records.
* The other civil suits can be found in previous articles on this blog.

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