Kenneth Rijock

Kenneth Rijock

Wednesday, October 12, 2016

NORTHLAND'S UNLICENSED "LEGAL ADVISER," WITH DODGY RESUME, COMMITTED COMPLIANCE MALPRACTICE


This is Richard Scarisbrick, whom Northland Wealth Management, Inc., claims is its compliance officer. In a pending Superior Court of Ontario lawsuit*, Northland filed a sworn affidavit, signed by Scarisbrick, attesting to a number of facts, based upon personal knowledge, and alleging that he is the corporation's compliance officer.

The trouble is, Mr. Scarisbrick's publicly available biography lists his title as "Legal and Regulatory Compliance Consultant," and goes on to state that his responsibilities include "Advise Executive Management on securities law regulatory matters," and that he has "securities law compliance experience, backed by a Juris Doctor law degree."

In truth and in fact, Scarisbrick is NOT admitted to the practice of law, in the Province of Ontario, or anywhere else in Canada,  according to the official records of the Law Society of Upper Canada, and he also not qualified as a paralegal assistant. He is prohibited from giving legal advice on "securities law regulatory matters." as his bio asserts that he does to Northland. Additionally, the use of the phrase "backed by a Juris Doctor degree" gives the reader the impression that Scarisbrick is a licensed attorney at law, though this is definitely not the case.

If Mr. Scarisbrick is truly giving legal advice to Northland officers, he is guilty of a crime, under the Laws of the province of Ontario, punishable by fines or imprisonment. The Unauthorized Practice of law is regarded as a serious matter, by the Law Society, which strictly prosecutes such offenses.

He also claimed to provide legal advice to former employers; such services were explicitly listed on his public resume/biography. Didn't anyone check to confirm that he was indeed a licensed lawyer or paralegal ?

Furthermore, a close look at the biography that Scarisbrick has published to the Internet, confirm that he never performed many of the duties and responsibilities that he claims he discharged, at former places of employment. We actually contacted several of the companies where he lists compliance experience, and learned that his true work duties were at substantially lower skill levels, rarther than those he claimed. individuals answering questions at those firms uniformly confirmed that held lesser positions. It is a mystery to me how he ever survived the selection process at Northland; his resume is full of lies and half-truths.

Also, he is guilty of  out-and-out fabricating work experience. For example, he claimed that, while employee at Leon Frazer & Associates, Inc., from 2007 to 2008, he worked on matters for Jovian Capital, and JovFunds, but LF was not affiliated with those entities for several years after that. Some of his listed work descriptions appear to have been lifted from corporate websites, and were not actually descriptive of his work experience.

Until the affidavit was filed, we were not even aware that Scarisbrick worked at Northland, on a full-time basis, for he is not listed on the website, nor does he appear anywhere in publicly-released materials, or news articles, and Northland clients making queries were never made aware of his name, in any connection, for compliance matters. Is he really an outside, non-resident consultant, claiming to be the compliance officer, when he is does the same for other companies, simultaneously ?

Assuming though, for the sake of argument, that Scarisbrick does hold the compliance position at Northland, he is therefore responsible for passing the transfer of millions of dollars, in client funds, from accounts of Dundee Merchant Bank, within the Bank of Butterfield, to an offshore shell corporation, with no assets, insolvent, and managed by a fugitive from justice, (Ryan Bateman) B & C Capital, Ltd., after which transfers, all the money, estimated to be as much as as $450m, disappeared. He failed to obtain client approval of the transfers, and let the funds go through to B & C Capital, when he knew, or should have known, that it was not a financial institution, by any stretch of the imagination.

He is therefore, strictly liable, as is his employer, Northland, for the investor losses suffered, as the direct consequence of his negligence. Who transfers millions of dollars, without obtaining written client consent, in advance, to a shell company, totally disregarding his company's fiduciary responsibilities ? There's no excuse for this egregious conduct, which clearly constitutes compliance malpractice.
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* Lawrence Heath etc vs. Northland Wealth Management, Inc., Ontario Superior Court of Justice.

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