Former financial advisor sentenced to seven years for fraud

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Justice Robert Manager said it was “selfish greed” of Jacques Scribnock, a former financial advisor, that resulted in shell company schemes that robbed close friends and family of their life savings. The frauds took place over a four-year period starting in 2008 and Scribnock was arrested in 2013, about six months after Ottawa police started receiving complaints from investors and launched an official investigation.

“The man is a snake, and a predator.” – Susan Brownrigg, fraud victim

Scribnock used shell companies under the names Magna Securities and Stone Securities to defraud those close to him, including his cousin.

Read more at CBC News

This article is summarized by Canadian Fraud News Inc.