This is an update to a post we did earlier on this story. CBC recently had a further story entitled Head of charitable foundation ordered to pay nearly $434K for orchestrating Bolivian bank investment scheme.
CBC notes:
A Manitoba Securities Commission panel has ordered the head of a charitable foundation to pay close to $434,000 in fines and repayments after he misled two charities and a couple into investing in a Bolivian financial institution.
Earlier this year, the commission found Jack Neufeld of The Jack Neufeld Family Charitable Foundation had violated several sections of the Securities Act between 2005 and 2010 when he convinced investors to put money into a Bolivian mortgage lender.