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(August 23, 2006) A former stockbroker from Havre-St-Pierre, John Doyle, pleaded guilty to tax evasion charges before the Court of Quebec today. Doyle was fined $86,720, roughly 70% of the tax he tried to evade on income generated when he misappropriated funds from his clients.

Doyle worked as a stock broker beginning in 1992 until the Montreal Stock Exchanged revoked his license in 2001 for misappropriating funds. A Canada Revenue Agency investigation revealed that Doyle had tried to evade $123,886 in taxes by failing to report $498,500 of income tax between 1998 and 2000. The income came from cheques payable to his clients that he fraudulently cashed and from a scheme where he forged and used false documents to misappropriate funds from clients and deposit them into his personal bank account.

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Worldsource hires two new vice presidents

(August 23, 2006) Worldsource Financial Management announced today that it has appointed two new vice presidents to help expand its advisor training programs, relationships and growth strategies.

Cindy Jenner Cowan, formerly the vice president of business quality and business development at Performa Financial Group, takes over as vice president of training and development while Michael Theodor, formerly a senior consultant at Standard Life Investment Funds, takes over as vice president of advisor relations, effective immediately.

Cowan will focus on the company’s advisor training programs while Theodor will focus on long term growth strategies.

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CBA award honours seven Canadian police officers

(August 23, 2006) Seven Canadian police officers are being recognized by the Canadian Bankers Association at a gala ceremony and dinner in St. John’s Wednesday evening, as part of the annual Canadian Association of Chiefs of Police Conference.

The CBA will award a team of four officers from the Ottawa region, one officer from the Toronto Police Service and two members of the Vancouver Police Department with the annual Canadian Banks’ Law Enforcement awards, recognizing dedicated work in combating crimes against Canada’s banks.

The recipients include Detective Carmine Palermo of the Toronto Police Service for his work in an investigation of credit card application fraud, believed to be one of the largest schemes of its kind in Canada; Sergeant Andrew Buchan of the Ottawa Police Service, Detective Sergeant Kelly Anderson of the Ontario Provincial Police (OPP) e-crime section, Detective Sergeant Dave Lollar of the OPP’s anti-racket section and Provincial Constable Josee Arbour of the OPP for their joint forces investigation into the manufacture and sale of equipment used to skim personal information and manufacture fraudulent credit cards; and Detective Constables Mark Fenton and David Frame, members of Vancouver’s’ Computer Investigative Support Unit, for their work that lead to the arrest of 16 individuals across North America, allegedly involved in a world-wide cyber crime ring responsible for trafficking stolen personal information.

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RBC expands global infrastructure finance platform

(August 23, 2006) RBC Capital Markets announced today that the company is expanding its global infrastructure finance platform, establishing a dedicated team of four senior infrastructure professionals in Australia.

The former Rothchilds professionals are director Stan Nikiforou, vice president Tim Foy and manager Matthew McKenna. The unit, based in RBC’s Sydney office, will be headed by Dominic Hudson.

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(08/23/06)