Businessman fined for trading without licence

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This article was published 19/04/2023 (911 days ago), so information in it may no longer be current.

fined for trading without licence

A Winnipeg businessman has been ordered to pay $2,000 to the Manitoba Securities Commission after admitting to trading securities without a licence.

Dennis Malthouse of Malthouse Auto admitted to approaching an acquaintance, identified in securities documents as D.T., in January 2014 and encouraging them to invest money with him, claiming he was “managing money for his sister and other people and was doing well.”

In one month, D.T. gave Malthouse three cheques totalling $80,000. Over the next year, Malthouse repaid D.T. $9,333.

According to securities commission documents, Malthouse said he used D.T.’s money “for a real estate venture and that the real estate venture was no longer a going concern.”

D.T. filed a complaint with the commission to seek compensation for their losses. D.T. later withdrew their claim and a hearing into the matter was cancelled after Malthouse and D.T. independently resolved the claim.

Financial details of the resolution were not disclosed.

“As such, commission staff will not be requesting an order for compensation for financial loss to be paid by Malthouse to D.T.,” the commission wrote in a settlement agreement dated March 28.

“Malthouse acknowledges that he acted contrary to the public interest in that he traded in securities without being registered to do so,” the commission said.

“Approval of the settlement agreement resolves the matter quickly, efficiently and with certainty,” while at the same time publicizing Malthouse’s wrongdoing and deterring others, the commission said.

Man, 66, dies in Roseisle crash

A man is dead after a two-vehicle crash west of Roseisle on Monday.

Pembina Valley RCMP officers were sent to the scene of the collision on Provincial Road 245, about two kilometres west of Roseisle at about 11:25 a.m.

An investigation has determined a Roseisle man driving a westbound SUV was trying to turn south onto Road 40 West when his vehicle was hit by an eastbound pickup truck, police said.

The 66-year-old driver of the SUV was transported to hospital, where he died. The driver of the truck — a 67-year-old man from Notre Dame de Lourdes — and the 66-year-old woman who was his passenger were taken to hospital with non-life-threatening injuries.

Watchdog probes cruiser collision

THE province’s police oversight agency is investigating after a Winnipeg police vehicle and a civilian’s vehicle collided in the city’s downtown Sunday, breaking the motorist’s rib.

The Independent Investigation Unit said the Winnipeg Police Service notified it of the 6 p.m. Sunday incident at Notre Dame Avenue and Donald Street the following day.

The notification said the civilian driver had to be taken to hospital with a broken rib, while two officers were also taken to hospital for examination. The IIU did not reveal further details of how the collision occurred.