The Alberta Securities Commission has ordered a man and a woman to pay millions after orchestrating what it says "was among the worst frauds perpetrated in Alberta." The securities commission has ordered Breitkreutz to repay $2.67 million, an administrative penalty of $1 million and investigative and hearing costs of $100,000. In March 2018, the panel found Breitkreutz, Way and Base Finance Ltd. guilty of contravening the Securities Act. Many were paid so-called interest payments in order to maintain the facade of a legitimate lender, but the payouts actually came from newer investors' money. Both Breitkreutz​ and Way represented themselves before the commission panel of lawyers, Bradley Nemetz, Ian Beddis and Maryse Saint-Laurent.

Source: CBC News February 25, 2019 22:18 UTC