Alberta RCMP Federal Policing lay charges in multi-million-dollar fraud and secret commission scheme

June 28, 2021
Calgary, Alberta

News release

The Alberta RCMP Integrated Market Enforcement Team (IMET) has laid charges against a Calgary-based financial advisor after investigating allegations of a multi-million-dollar fraud and secret commission.

After an extensive investigation, Jeffrey Ber, 38, of Calgary, Alta., has been charged with the following:

  • Two counts of Fraud Over $5,000, contrary to Section 380(1) of the Criminal Code; and
  • One count of Secret Commission, contrary to Section 426(1)(a) of the Criminal Code.

The investigation followed a referral received from the Alberta Securities Commission (ASC) and revealed that Ber conducted trades in client accounts without their knowledge and without discretionary authority. Ber downgraded clients' accounts without their knowledge or consent, in some cases selling their blue chip stocks to purchase a publicly-traded penny stock. The investigation revealed that Ber received a secret commission from a company for his placement of its shares into his clients' portfolios.

Ber is scheduled to appear in Calgary Provincial Court on Monday, July 19, 2021.

The Alberta RCMP IMET was able to successfully carry out this investigation in collaboration with the Forensic Accounting Management Group, Financial Transactions and Reports Analysis Center of Canada, Public Prosecution Service of Canada and Specialized Prosecutions of the Province of Alberta, as well as the ASC.

"The charges laid in this investigation by IMET are an example of the RCMP's commitment to hold accountable those persons who put Albertans' finances at risk. The lengthy and laborious work by investigators, combined with the assistance of and collaboration with our partners, has successfully brought this matter before the courts."

- Insp. Charlene O'Neill, Officer in Charge of Calgary IMET

IMET is a specialized unit under the RCMP Federal Policing program that detects, investigates, and deters market fraud. IMET works closely with the ASC to protect investors and further enhance confidence in Canada's capital markets.


Contact information

Alberta RCMP Media Relations

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