British Columbia Securities Commission

British Columbia Securities Commission

September 20, 2005 09:30 ET

British Columbia Securities Commission: Research into Investor Fraud Released

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 20, 2005) - The British Columbia Securities Commission released today new findings about investors in the Eron Mortgage investment fraud and the losses that they suffered.

The findings are in a research study conducted by Simon Fraser University criminology expert, Neil Boyd. The securities regulator commissioned Prof. Boyd to conduct a systematic study of the investment fraud that saw thousands of investors lose most of the $240-million invested in the scheme that operated from 1993 to 1997. The commission funded the study - as part of its ongoing efforts to improve its investor education program - to learn more information about those who invested in Eron.

Prof. Boyd and his research team conducted surveys, held focus groups and interviewed Eron investors. In total they surveyed close to 2,300 Eron investors and conducted 180 telephone interviews. They also held face-to-face interviews with regulators, lawyers, accountants and others involved in investigating and dealing with the fraud.

A copy of the study is available on the commission's website (www.bcsc.bc.ca).

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province.

Contact Information

  • British Columbia Securities Commission
    Andrew Poon
    (604) 899-6880 or (B.C. & Alberta) 1-800-373-6393
    www.bcsc.bc.ca
    or
    Simon Fraser University
    Prof. Neil Boyd
    (604) 291-3324