CALGARY, AB, Dec. 6, 2024 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Paul Lackan for perpetrating a fraud on investors.
In June 2024, an ASC panel determined that, between July 2018 and December 2020, Lackan raised over $153,000 from investors and misappropriated at least $115,378 of that amount. The panel found that Lackan told investors the funds would be used to acquire or invest in a medical business, but instead spent much of the money on personal expenses and on unrelated business expenses. The investors did not receive their principal back or any return on their investments.
Read more at newswire.ca
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