B.C. investment fraud victim thinks he was able to recover his $735K thanks to similar Manitoba case | CBC News LoadedA British Columbia man who put more than $700,000 of his money into what he thought would be a safe investment, only to have it taken by a fraudster, says the discovery of a Winnipeg fraud case is likely to thank for the recovery of his money.
Landa says while he was initially reluctant, he was convinced to send two wire transfers to the supposed financial adviser. Landa says he checked the name the caller gave him with HSBC's main bank branch in downtown Vancouver and found the person was listed as working there. The transfers went ahead, despite staff at the banks where his own accounts are — TD and RBC — grilling him with tough questions before reluctantly sending them, which Landa said initially annoyed him."I'm such an idiot now, in hindsight. What was I thinking?"
Winnipeg's Peter Squire lost more than $600,000 of his retirement savings to a fraudster. While he lost his money, Squire said he takes some satisfaction in the knowledge his case may have helped someone else. "They should be probably a lot more strict than they are, and they are very strict," he said, adding he suspects fraud is "unbelievably rampant."His experience left him thinking regulations should be changed to impose a seven-day hold on wire transfers before the money is moved."It's nobody else's fault but your own. You're the one making the decision to do it."Fraud is "very bad right now," said Sgt.