ASC decision on Doug SchneiderCheck the ASC site for the decision of Feb 25, 2005. He admitted to illegal trading in stocks of AFH and LNMD where his investors lost everything. He was fined $10,000 and had to pay costs of $7500. He was banned from trading for 5 years except on his RRSP through a registered representative.
Rumors from Medicine Hat that he is being sued for big losses by those he put into these stocks. Apparently well over a half million so that should have him scrambling for financial cover. Only question is whether he is a crook or just really, really dumb to have been involved in raising monies and turning it over to the thieves at AFH. No idea on the commissions he may have received. Doesn't do much for his rep as a financial adviser, such as it was, especially in the Medicine Hat area.
Brian D was fined too.
But we are now in a position to officially declare them to be DORRKKKKKKS!!!!