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The RCMP’s Integrated Market Enforcement Team (“IMET”) has arrested a Harrow, Ont., man for stock market manipulation. Petar Vucicevich has been charged with two counts of fraud.

Between July 31, 2006, and December 31, 2006, Vucicevich was interim president and CEO of Sulja Bros. Building Supplies Ltd., a small lumberyard located in Harrow that was traded on the Pink Sheets in the U.S.

During that time, he is alleged to have issued misleading press releases in order to generate and sustain interest of prospective investors. He allegedly sold shares issued from the company’s treasury, garnering $11.5 million US. Some of this money was used to buy 11 properties in southern Ontario.

The company was depleted of assets and ceased operations earlier this year, putting its 30 employees out of work. A new location was opened under a different name in Calgary, Alta., but the business never became operational.

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BMO offers private banking in St. John’s

In a sure sign that Newfoundland is shedding its “have-not” past, BMO Harris Private Banking has opened an expanded office in St. John’s.

“We’re very pleased that we are now able to offer our outstanding personalized service on the ground in St. John’s to high-net-worth families across the province,” said Ryan McNally, vice-president and managing director, BMO Harris Private Banking, Atlantic Canada.

Among the services offered are investment management, estate and trust services, financial planning, philanthropic advice and succession planning.

The five-person St. John’s team will be led by senior private banker Patrick Murphy.

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Toronto CFA Society names executive director

The Toronto CFA Society has named Peter Jarvis, former chief investment officer and executive vice-president, investments, at BIMCOR, as executive director.

“Peter is a welcome addition. He is a CFA charterholder and brings with him a long background of financial industry management and leadership experience from many highly recognized companies,” said Deborah Lee Chang, CFA and president of the Toronto CFA Society. “His arrival is timely as we move through these challenging markets, where more than ever we as CFA charterholders have a responsibility to communicate with and for our members.”

Jarvis is expected to focus on deepening the organization’s network with professional associations and regulators who share common interests with the membership.

(12/15/08)