Toronto IMET Charges Part-Owner of a Mutual Fund Dealer with Fraud

Royal Canadian Mounted Police Toronto IMETOn April 12, 2019, members of the Toronto Integrated Market Enforcement Team ( Toronto IMET ) of the Royal Canadian Mounted Police (RCMP) charged Marilyn Dianne Stuart from Keswick, Ontario with fraud over $5,000 contrary to the Criminal Code of Canada.

Stuart was a principal at W.H. Stuart and Associates, a Mutual Fund company, located in the Greater Toronto Area. The charge relates to the alleged misappropriation of funds of the victim-investors. It is alleged that Stuart improperly diverted investor funds.

“The RCMP’s Toronto IMET program is grateful for the valuable support of the Ontario Securities Commission and the Mutual Fund Dealers Association,” said Karen Manarin, Special Advisor on Financial Crime.

On May 16, 2019, at 10:30 am, Stuart is scheduled to appear in the Ontario Court of Justice, Courtroom 201 at 10:30 am, 50 Eagle Street West, Newmarket, Ontario.

This complex investigation was led by the Toronto IMET. This specialized RCMP-led unit is mandated to protect the integrity of Canada’s Capital Markets by detecting, investigating and deterring capital market fraud, such as market manipulation and filing false prospectuses.

IMETs are located in British Columbia, Alberta, Ontario and Quebec and are funded by the Government of Canada and led by the RCMP. Their goal is to detect, investigate and charge those using capital markets to harm the economic interests of Canadians.

The RCMP would like to thank Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for their assistance with this investigation.

Law enforcement agencies work diligently to make our communities a safer place to live, however your assistance in remaining vigilant and informing us of any suspicious activities will help us be even more successful. You can contact your local police, the RCMP in Ontario at 1-800-387-0020, or anonymously through Crime Stoppers at 1-800-222-8477 (TIPS), at any time.