The British Columbia Securities Commission reported that Frederick Johnathon Nielsen, also known as Fred Gilliland, received a suspended sentence after pleading guilty to breaching a commission order. Vancouver Provincial Court ordered him to pay CAD 17,300 in restitution, equal to the amount obtained through the offence, and imposed two years of probation with conditions prohibiting contact with the victims. Nielsen admitted breaching a 25-year investment market ban in 2018 and 2019. The ban was imposed under a 2011 settlement concerning the operation of a boiler room and unregistered trading. He was charged in 2023 following a commission investigation. Under the plea agreement, three fraud counts and a second order breach count were stayed.
British Columbia Securities Commission reports suspended sentence and CAD 17,300 restitution for breach of market ban
The British Columbia Securities Commission reported that Frederick Johnathon Nielsen received a suspended sentence for breaching a 25-year investment market ban. He must pay CAD 17,300 in restitution and serve two years of probation, including restrictions on contacting the victims.