Lawsuit seeks restitution from former Olympian who went missing for 18 months
VICTORIA — An investment dealer and former Olympic rower who disappeared for nearly 18 months faces a civil lawsuit from investors alleging he ran a pyramid scheme with their money.
A notice of civil claim was filed in Duncan, B.C., on July 7, 2016, on behalf of six people who say they were Harold Backer’s clients. It names Backer, his former employer Investia Services Financiers Inc., and a private investment firm operated by Backer, My Financial Backer Corp., as defendants.
The suit filed in B.C. Supreme Court claims damages for breach of contract, negligence and fraud “arising from an unauthorized, fraudulent, pyramid or ‘Ponzi’ scheme operated by the defendants, Backer and MFB (My Financial Backer Corp.) with funds received from the plaintiffs.”
The suit claims damages for negligence against Investia, which employed Backer since 2005 but terminated his employment after his disappearance.