By James Peters

BC Securities Commission

Hearing planned for Salmon Arm man accused of misleading investors

Jan 21, 2020 | 10:43 AM

SALMON ARM, B.C. — The BC Securities Commission (BCSC) has set a tentative hearing date for a Salmon Arm man accused of misleading investors.

According to a news release from BCSC, the issue revolves around the actions of Donald Bergman and his company, All Canadian Investment Corporation (ACIC), between February 2014 and December 2015.

ACIC provided loans to real estate owners and developers, securing them through mortgages on their properties.

During the above-noted time frame, the BCSC says ACIC raised $1.6 million from more than 50 investors “through three offering memorandums that explained how the loans would be secured.”

The BCSC says offering memorandums must be specific about investments. The allegation is that those ACIC memorandums contained “false or misleading” statements.

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The allegations are still unproven. A tentative hearing date for Bergman and ACIC has been set for March.