Victoria men charged with securities crimes

Three Victoria-area men face charges relating to improperly selling securities four years ago

A former rising star in real estate investment is one of three men in Victoria hit with securities charges linked to improper investment sales.

Saanich police and West Shore RCMP assisted the B.C. Securities Commission criminal investigation team in the investigation, which led to the arrest of two men on Tuesday. A third suspect is still at large.

Daniel Barton, 29, a resident of Victoria, and Gregory Gillespie, 36, of Saanich, were each arrested at their respective homes without incident, and made their first appearance in court Wednesday. They are due back in Victoria provincial court on Sept. 19.

As of Wednesday, Andrew Chengalath, 28, remains at large and the court has issued a warrant for his arrest.

The three men are each charged under the Securities Act with selling securities though Oasis Properties Inc. without being registered with any regulating agency, and charged with selling securities without a prospectus. The alleged offenses took place between March 1, 2008 and Oct. 31, 2009.

B.C. Securities Commission alleges the men improperly sold securities related to a real estate investment centered on 1250604 Alberta Ltd., an Alberta company controlled by Barton and doing business as Oasis Properties and Caprice Investments.

Barton is the most high-profile of the three accused. In 2008, during the same time period of his alleged offenses, the Greater Victoria Chamber of Commerce awarded Barton the Young Entrepreneur of the Year award.

The Oak Bay High grad was also profiled in Monday Magazine in 2006 as an up and coming real estate entrepreneur who owned scores of homes in Alberta.

Richard Gilhooley, a communications officer with the B.C. Securities Commission, said the commission is alleging that none of the men had registered with regulating agencies such as the B.C. Securities Commission or the Mutual Fund Dealers Association of Canada, for example.

Selling securities without a prospectus – which details the business plan, financial audits, and future plans of the company – without an exemption, is also against the Securities Act.

“We allege they acted contrary to the public interest. The requirements are there to protect investors,” Gilhooley said.

B.C. Securities Commission wouldn’t say how many investors are involved, the amount of money invested or how the complaint against the men emerged. Gilhooley said the long gap to lay charges is not unusual in these types of cases.

“Complex financial investigations often take a long time to gather material, talk to witnesses,” he said. Crown counsel also requires a reasonable likelihood of conviction before signing off on the charges.

Oasis Properties, which had address listings in Langford and Victoria, no longer has a working phone number or website.

Barton is listed as president of Oasis Properties Inc. and Gillespie was its chief operating officer, according to their respective LinkedIn profiles.

Anyone who invested with Oasis Properties and Caprice Investments is encouraged  to contact the B.C. Securities Commission at www.investright.org or 1-800-373-6393.

editor@saanichnews.com

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

VIDEO: Langford man battling cancer honored with hot rod, motorcycle procession

Friends and family support Patrick O’Hara on his 73rd birthday

‘Seven baths in two days’: Homeless adjusting to life in hotels

Victoria passes motion to allow camping 24-7 in parks until June 25

Langford Fire calm mother and daughter after being trapped in elevator

Three-year-old girl given stuffed animal to calm nerves

Capital Regional District prepares to reopen regional campgrounds

Camping will look different at Island View, Sooke Potholes, Jordan River sites

Langford businesses can expand onto sidewalks, public spaces

Council passes new bylaw supporting business expansion

B.C. legislature coming back June 22 as COVID-19 emergency hits record

Pandemic restrictions now longer than 2017 wildfire emergency

POLL: Do you agree with the provincial government’s decision to increase the minimum wage?

B.C.’s lowest-paid workers will be getting a few more dollars to try… Continue reading

B.C.’s essential grocery, hardware store employees should get pandemic pay: retail group

Only B.C.’s social, health and corrections workers are eligible for top-ups

Edmonton, Vancouver and Toronto vying to be NHL hubs, but there’s a catch

The NHL unveiled a return-to-play plan that would feature 24 teams

As SD84 schools look to reopen, Kyuquot and Zeballos opt out

Schools in Tahsis and Gold River will open on June 1, with 30 per cent students expected to come in

B.C. sees 9 new COVID-19 cases, one death as officials watch for new cases amid Phase Two

Number of confirmed active cases is at 244, with 37 people in hospital

Illicit-drug deaths up in B.C. and remain highest in Canada: chief coroner

More than 4,700 people have died of overdoses since B.C. declared a public health emergency in early 2016

CMHC sees declines in home prices, sales, starts that will linger to end of 2022

CMHC said average housing prices could fall anywhere from nine to 18 per cent in its forecast

B.C. Paralympian named to Canada’s Sports Hall of Fame

Three-time world and Paralympic gold medalist Sonja Gaudet is part of 11-member class

Most Read