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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Mission Fishin who wrote (1402)	4/22/2001 12:15:40 PM
From: Mission Fishin	Read Replies (1) \| Respond to of 12465

By: HPOBET $$$ Reply To: 30539 by Bastin5 $$$$ Sunday, 22 Apr 2001 at 2:04 AM EDT Post # of 30559 Here's something that is Canadian and doesn't need interpretation. Nor is it censored by the RB spelling checker. Copyright 1991 Toronto Star Newspapers, Ltd. The Toronto Star June 28, 1991, Friday, FINAL EDITION BUSINESS TODAY; Pg. C2 Top court upholds ruling for damages in fraud case OTTAWA (CP) - A $3 million award to two women victimized by a Vancouver stock fraud was allowed to stand yesterday by the the Supreme Court of Canada. In a decision released without comment, the court refused to review the judgment last December by the British Columbia Court of Appeal, which more than doubled the damages previously awarded to Bobby Huff and Ann Donnelly. They were defrauded by Leslie Price, a former chartered accountant and investment adviser. Also named as defendants and liable for damages were Price's wife Arlene, former broker Arthur Charpentier and the defunct brokerage firm Continental Carlisle Douglas Ltd. Evidence in the case showed Huff entrusted Price with $230,000 in life insurance proceeds from the death of her husband and $45,000 in a Swiss bank account in 1979. Donnelly entrusted him with $57,000 worth of stock and $88,000 worth of assets from her father's estate, also held in a Swiss bank. Price opened brokerage accounts for the two women with Charpentier, then a partner at Continental. He then used their money as part of a scheme to manipulate shares in Cumo Resources Ltd., an oil exploration company underwritten by Continental on the Vancouver Stock Exchange. Price used some 100 different accounts to manipulate the stock, including both real and forged accounts in the names of Huff and Donnelly. The stock soared from 65 cents a share to $39.75 and the total value of the two women's portfolios at one point reached $2.5 million. When the bottom fell out and the shares in Cumo were sold off, Huff ended up with a deficit of $167,411 in her personal account and Donnelly with a deficit of $10,017. The B.C. appeal court eventually ordered that damages of $1.54 million be paid to each woman.