A small payday is coming for more than 480 investors, most of whom were seniors, who were defrauded of $65 million by a Victoria man. Securities Commission nearly five years ago and banned from the industry for fraudulently advising clients and selling them exempt securities. "Unfortunately, one of the terrible consequences of investment fraud is that people often lose money," Muir told All Points West host Robyn Burns. Michaels made $5.8 million in fees and commissions from the fraud, according to the securities commission. Securities Commission court-appointed receiver, Grant Thornton Limited, about accessing available funds.

Source: CBC News January 18, 2019 22:30 UTC