Victoria men charged with securities crimes

Three Victoria-area men face charges relating to improperly selling securities four years ago

A former rising star in real estate investment is one of three men in Victoria hit with securities charges linked to improper investment sales.

Saanich police and West Shore RCMP assisted the B.C. Securities Commission criminal investigation team in the investigation, which led to the arrest of two men on Tuesday. A third suspect is still at large.

Daniel Barton, 29, a resident of Victoria, and Gregory Gillespie, 36, of Saanich, were each arrested at their respective homes without incident, and made their first appearance in court Wednesday. They are due back in Victoria provincial court on Sept. 19.

As of Wednesday, Andrew Chengalath, 28, remains at large and the court has issued a warrant for his arrest.

The three men are each charged under the Securities Act with selling securities though Oasis Properties Inc. without being registered with any regulating agency, and charged with selling securities without a prospectus. The alleged offenses took place between March 1, 2008 and Oct. 31, 2009.

B.C. Securities Commission alleges the men improperly sold securities related to a real estate investment centered on 1250604 Alberta Ltd., an Alberta company controlled by Barton and doing business as Oasis Properties and Caprice Investments.

Barton is the most high-profile of the three accused. In 2008, during the same time period of his alleged offenses, the Greater Victoria Chamber of Commerce awarded Barton the Young Entrepreneur of the Year award.

The Oak Bay High grad was also profiled in Monday Magazine in 2006 as an up and coming real estate entrepreneur who owned scores of homes in Alberta.

Richard Gilhooley, a communications officer with the B.C. Securities Commission, said the commission is alleging that none of the men had registered with regulating agencies such as the B.C. Securities Commission or the Mutual Fund Dealers Association of Canada, for example.

Selling securities without a prospectus – which details the business plan, financial audits, and future plans of the company – without an exemption, is also against the Securities Act.

“We allege they acted contrary to the public interest. The requirements are there to protect investors,” Gilhooley said.

B.C. Securities Commission wouldn’t say how many investors are involved, the amount of money invested or how the complaint against the men emerged. Gilhooley said the long gap to lay charges is not unusual in these types of cases.

“Complex financial investigations often take a long time to gather material, talk to witnesses,” he said. Crown counsel also requires a reasonable likelihood of conviction before signing off on the charges.

Oasis Properties, which had address listings in Langford and Victoria, no longer has a working phone number or website.

Barton is listed as president of Oasis Properties Inc. and Gillespie was its chief operating officer, according to their respective LinkedIn profiles.

Anyone who invested with Oasis Properties and Caprice Investments is encouraged  to contact the B.C. Securities Commission at www.investright.org or 1-800-373-6393.

editor@saanichnews.com

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sipili Molia, regional kettle manager, shows off the Salvation Army’s new contactless donation system for the 2020 Christmas Kettle Campaign outside municipal hall on Dec. 1. (Devon Bidal/News Staff)
VIDEO: Tech offers hope as Salvation Army sees need skyrocket across B.C.

Charity is equipping hundreds of kettles across B.C. with ‘touchless giving technology’

Kathy MacNeil, president and chief executive officer of Island Health, Dawn Thomas, acting deputy health minister and Island Health’s vice president, Indigenous health and diversity and Chief Don Tom of Tsartlip First Nation, stand out Saanich Peninsula Hospital Tuesday morning, when they also answered questions about a new report that “widespread systemic racism against Indigenous people” in the provincial health care system. (Island Health/Submitted)
Head of Island Health says Saanich Peninsula Hospital not part of racist guessing game

Tsartlip First Nations Chief Don Tom welcomes changes following report but promises future scrutiny

The Capital Regional District and the Habitat Acquisition Fund have agreed to partner on the purchase of the $3.4-million Mountain View Forest in Saanich to establish a new regional park. (Photo courtesy the Habitat Acquisition Trust)
CRD, Habitat Acquisition Trust to spend $3.4M on 20-hectare forest park in Saanich

Mountian Road Forest property to be conserved as regional park

Caroline Sousa, Bela Spick and her son Mateo marched along Prospect Lake Road in November 2019 to bring attention to the unsafe conditions on the road. (Black Press Media file photo)
Saanich reduces Prospect Lake Road speed limit to 30 km/h

New speed limit in effect as of Dec. 1 from Goward Road to Estelline Road

Royal Bay Secondary’s leadership class, comprised of Grade 9 through 12 students, is part of the student team organizing this year’s 10,000 Tonight event that shifts entirely online for 2020. (Aaron Guillen/News Staff)
West Shore student food drive shifts entirely online

Drive-thru option removed from 10,000 Tonight in light of COVID-19 restrictions

A tongue-in-cheek message about wearing a face mask to curb the spread of COVID-19 on a sign outside a church near Royal Columbia Hospital, in New Westminster, B.C., on Sunday, Nov. 29, 2020. THE CANADIAN PRESS/Darryl Dyck
B.C.’s COVID-19 infection count climbs back up to 656

20 more people in hospital, active cases still rising

Dave Wallace coached the Parksville Royals for 23 years. (PQB News file photo)
B.C. baseball community mourns death of legendary Vancouver Island coach Dave Wallace

‘All who knew Dave and his passion for the game will miss him greatly’

THE CANADIAN PRESS/Nathan Denette
B.C. researchers launch study to test kids, young adults for COVID-19 antibodies

Kids and youth can often be asymptomatic carriers of the novel coronavirus

A sign is seen this past summer outside the Yunesit’in Government office west of Williams Lake reminding visitors and members to stay safe amid the COVID-19 pandemic. (Rebecca Dyok photo)
B.C. First Nation leaders await privacy commissioner decision on COVID-19 information

Release of life-saving data cannot wait, says coalition of First Nations

MLA Jennifer Whiteside is B.C.’s new minister of education. She is speaking out against Chilliwack school trustee Barry Neufeld and asking him to resign. (Black Press)
New education minister calls on Chilliwack trustee to resign

Whiteside echoes former minister’s promise to look at options to remove Barry Neufeld

Peter Beckett. ~ File photo
Supreme Court of Canada to decide if it will hear appeal in 2010 wife murder trial

Peter Beckett has stood trial twice for murder in connection with the death of his wife, Laura Letts-Beckett

Tabor Home in Abbotsford. (Ben Lypka/Abbotsford News)
B.C.’s largest COVID-19 care-home outbreak records 19 deaths, 147 cases

Tabor Home in Abbotsford has been battling outbreak since Nov. 4

Most Read