CALGARY – A Calgary man has been sanctioned by the Alberta Securities Commission following a securities fraud investigation that found the man had bilked investors of millions of dollars in one of the largest Ponzi schemes the province has seen.

Craig Michael Thompson has been ordered to pay about $8.1 million in disgorgement, along with an administrative penalty of $750,000 and costs of $14,000. Thompson is also permanently banned from trading in or purchasing any securities.

“Ponzi schemes of this size have been relatively rare in Alberta history,” said Cynthia Campbell, director of enforcement at the Alberta Securities Commission.

“Thompson told people he was a successful day trader and very experienced when in fact he had no related financial or investment education training.”

Camp

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