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CIBC investment dealers will pay more than $73 million to compensate clients who were inadvertantly overcharged fees, Ontario’s securities regulator says.
Canadian Imperial Bank of Commerce has agreed
to compensate clients a total of $73.3 million
after collecting excess fees for certain mutual
funds and investment services over 14 years.
to compensate clients a total of $73.3 million
after collecting excess fees for certain mutual
funds and investment services over 14 years.
Imprisoned founder of body armour company dies at 61
– canadianbusiness.com
DANBURY, Conn. – The founder of America’s leading supplier of body armour to the U.S. military has died in prison while serving a 17-year sentence for running a massive stock fraud scheme. David H. Brooks was 61.
The U.S. Bureau of Prisons confirmed Brooks died Thursday at the Federal Correctional Institution in Danbury, Connecticut. BOP spokesman Justin Long said, for privacy reasons, prison officials cannot release additional details.
Brooks’ lawyer told Newsday that Brooks became ill Thursday and was taken to a hospital. He said it was unclear what led to his death.
Brooks, the founder and former chief executive of DHB Industries, based in Pompano Beach, Florida, was convicted in 2010 of securities fraud and conspiracy for masterminding a $185 million stock swindle and using the proceeds to pay for luxuries, including lavish parties featuring Tom Petty, Aerosmith and the Eagles.
The post Imprisoned founder of body armour company dies at 61 appeared first on Canadian Business – Your Source For Business News.
The U.S. Bureau of Prisons confirmed Brooks died Thursday at the Federal Correctional Institution in Danbury, Connecticut. BOP spokesman Justin Long said, for privacy reasons, prison officials cannot release additional details.
Brooks’ lawyer told Newsday that Brooks became ill Thursday and was taken to a hospital. He said it was unclear what led to his death.
Brooks, the founder and former chief executive of DHB Industries, based in Pompano Beach, Florida, was convicted in 2010 of securities fraud and conspiracy for masterminding a $185 million stock swindle and using the proceeds to pay for luxuries, including lavish parties featuring Tom Petty, Aerosmith and the Eagles.
The post Imprisoned founder of body armour company dies at 61 appeared first on Canadian Business – Your Source For Business News.
