Vancouver Island man accused of defrauding $1M from investor during hotel sale
The British Columbia Securities Commission (BCSC) says a Sooke, B.C. man defrauded an investor of $1 million by misleading them about the ownership of the Sooke Harbour House hotel.
The BCSC alleges that Sooke resident Timothy Durkin raised the money while he was working as the director of SHH Holdings Limited between December 2015 and March 2016.
"Durkin told the investor that SHH owned the Sooke Harbour House hotel through a subsidiary, and that by buying 40 per cent of the shares of SHH, the investor would obtain a 40 per cent ownership interest in the hotel," said the BCSC in a release Monday.
However, SHH did not in fact have any ownership rights to the property, and the investor never recovered any of the $1 million they spent on shares, claims the British Columbia Securities Commission.
"The BCSC alleges that by deceiving the investor, Durkin and SHH committed fraud under the Securities Act," said the organization Monday.
The British Columbia Securities Commission is an independent provincial government agency that monitors B.C.'s capital markets.
The commission has scheduled a hearing on the matter for Nov. 10.
None of the BCSC's allegations have been tested in court.
The Sooke Harbour House has been at the centre of a legal dispute between the couple that originally purchased the property decades ago, and prospective buyers, including Durkin.
Civil court documents dating back to March 2020 show that a judge ruled that Durkin, alongside SHH Holdings Limited and other partners, owed the original owners of the hotel more than $760,000.
CTVNews.ca Top Stories
What's a Barnacle? It's yellow, sticks and screams if you try to pry it off your car
Barnacles, bright yellow devices used to make sure parking scofflaws pay their tickets, could soon be making their way to cities across Canada.
Verdun Airbnb listing taken down amid complaints, fines and frustration from neighbours
An Airbnb in Montreal's Verdun borough was the source of much frustration from neighbours who say there were constant parties at the location. It has been taken down from the app, but housing advocates remain upset about short-term rentals.
Man who set himself on fire outside Trump trial dies of injuries, police say
A man who doused himself in an accelerant and set himself on fire outside the courthouse where former U.S. President Donald Trump is on trial has died, police said.
They were from different countries and barely spoke each other's languages. More than 20 years later, they're still happily in love
He decided to spend Christmas somewhere that wouldn't involve snowstorm disasters. She was spending the holidays with family, travelling for the first time outside of her native country of Venezuela. 23 years later, they're still in love.
Young people 'tortured' if stolen vehicle operations fail, Montreal police tell MPs
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
Fire in Labrador town under control, officials tells residents to stay away
RCMP say the fire that prompted a state of emergency in a Labrador town is now under control.
12 students and teacher killed in Columbine school shooting remembered at 25th anniversary vigil
Thirteen victims of the Columbine High School shooting were remembered during a vigil Friday on the eve of the 25th anniversary of the shooting that was the worst the nation had seen at the time.
Israeli airstrike in southern Gaza city of Rafah kills at least 9 Palestinians, including 6 children
An Israeli airstrike on a house in Gaza's southernmost city killed at least nine people, six of them children, hospital authorities said Saturday, as Israel pursued its nearly seven-month offensive in the besieged Palestinian territory.
Mandisa, Grammy award-winning 'American Idol' alum, dead at 47
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.