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
DEVELOPING Person on fire outside Trump's hush money trial rushed away on a stretcher
A person who was on fire in a park outside the New York courthouse where Donald Trump’s hush money trial is taking place has been rushed away on a stretcher.
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.
She set out to find a husband in a year. Then she matched with a guy on a dating app on the other side of the world
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
'It could be catastrophic': Woman says natural supplement contained hidden painkiller drug
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
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.
Vicious attack on a dog ends with charges for northern Ont. suspect
Police in Sault Ste. Marie charged a 22-year-old man with animal cruelty following an attack on a dog Thursday morning.
The Body Shop Canada explores sale as demand outpaces inventory: court filing
The Body Shop Canada is exploring a sale as it struggles to get its hands on enough inventory to keep up with "robust" sales after announcing it would file for creditor protection and close 33 stores.
Tropical fish stolen from Beachburg, Ont. restaurant found and returned
Ontario Provincial Police have landed a suspect following a fishy theft in Beachburg, Ont.
U.S. FAA launches investigation into unauthorized personnel in cockpit of Colorado Rockies flight to Toronto
The U.S.’s Federal Aviation Administration is investigating a video that appears to show unauthorized personnel in the cockpit of a charted Colorado Rockies flight to Toronto.