Former part-owner of a mutual fund dealer charged with fraud

By The IJ Staff | April 15 2019 01:30PM

The Toronto Integrated Market Enforcement Team (IMET) of the RCMP has announced that Marilyn Dianne Stuart from Keswick, Ontario was charged on April 12 with fraud over $5,000 contrary to the Criminal Code of Canada.

Stuart was a principal at W.H. Stuart and Associates, a mutual fund dealer that was located in the Greater Toronto Area. “The charge relates to the alleged misappropriation of funds of the victim-investors. It is alleged that Stuart improperly diverted investor funds,” stated the RCMP in an announcement on April 15.

She is scheduled to appear in court in Newmarket on May 16, 2019.

"The RCMP's Toronto IMET program is grateful for the valuable support of the Ontario Securities Commission and the Mutual Fund Dealers Association," said Karen Manarin, Special Advisor on Financial Crime.

In 2016, the MFDA permanently banned and fined Stuart $7 million.

Related to the same topic …