B.C. man accused of misusing $450,000 of investors’ money

The B.C. Securities Commission alleges William Wade Furman got eight investors to contribute money

A B.C. man is accused of raising nearly half a million dollars from investors for day trading, but instead, spending some of the cash on his own bills, retail purchases and paying back other investors.

The B.C. Securities Commission alleged in a news release Tuesday that William Wade Furman collected $452,000 from eight investors while living in B.C. between 2012 and 2014.

Furman is believed to have raised the money by “falsely claiming that he was a successful, licensed day-trader and that he would use their money to day-trade on their behalf.”

He raised the money through two companies he incorporated, the release said, called Liquidus Holdings Inc. and Liquius Capital Inc.

However, he was never actually registered under the Securities Act. He used half of the money to day-trade, the release said, and used the rest for cash withdrawals, retail and bill purchases and repayments to other investors and himself.

Furman also misled investors by providing fabricated monthly reports that showed how his trades were performing, the release said. Reports were published on the letterhead of a registered investment dealer.

Since 2014, he has repaid a total of $41,150 to the investors involved.

These allegations have not been proven in court.

Furman faces an appointment with the executive director of the commission on April 10 before a date is set for a hearing.


Like us on Facebook and follow us on Twitter.

Just Posted

Free ‘Fighting Against Racism’ forum in Surrey this weekend

Organizers say aim of Surrey event is to provide ‘educational insight into the issue to help find definitive solutions’

Lawyer for Surrey suspect in beating of man with autism says he’s not guilty

Ronjot Singh Dhami will turn himself in, lawyer said

Tree-removal at site of future South Surrey park ‘necessary’

City says many of 26 trees cut last week for Sunnyside Saddle Club Park were unhealthy

UPDATE: Surrey man wanted in ‘vicious’ attack on autistic man has criminal history

Ronjot Singh Dhami, 25, is wanted on a Canada-wide warrant for one count of aggravated assault

VIDEO: The fun of ‘footy’ attracts kids to North Delta field from March to June

‘We’re the only organized kids (footy) league in North America,’ says Mike McFarlane of NDJAFL

North Delta happenings: week of March 22

Events, courses and clubs listing for North Delta

Lower Mainland rabbits confirmed killed by highly-infectious virus

Feral colony on Annacis Island in Delta died from hemorrhagic disease. Pet rabbits could be at risk

B.C. Scientists witness first-ever documented killer whale infanticide

“It’s horrifying and fascinating at the same time.”

Okanagan Falls winery showing international photo project

Liquidity Wines will be sole Canadian show of National Geographic’s Photo Ark

Liberals awarded $100,000 contract to man at centre of Facebook data controversy

Christopher Wylie says his voter-profiling company collected private information from 50 million Facebook users

Facebook’s Zuckerberg admits mistakes in privacy scandal

Zuckerberg admits to privacy scandal involving a Trump-connected data-mining firm, but no apology

Online threat to U.S. high school traced to Canadian teen

A 14-year-old girl has been charged in connection with an online threat against a high school

Vaping device overheats, burns down home on Vancouver Island

Nanaimo Fire Rescue says units could cause fires in other homes and even aircraft

Most Read