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by Mike Caswell

Canaccord Genuity Corp. has won a $245,000 judgment in the Supreme Court of British Columbia against former Kelowna employee Ferdinand Renaud. The firm claimed that Mr. Renaud caused $1.3-million in client losses and that it had to pay out $245,000 to his former clients. It sought, and has now won, an order reimbursing it for that money.

Canaccord may have some effort ahead of it to collect that judgment, however. The order, handed down on April 5, 2016, came without any participation from Mr. Renaud. He did not respond to the lawsuit or otherwise acknowledge the matter in court. From documents filed in the case, it appears that Canaccord has had little, if any, communication with Mr. Renaud since he left the firm about five years ago. His most recent address was in Quebec City.

The judgment comes 10 months after Canaccord first complained about Mr. Renaud's conduct in court. In a notice of claim filed at the Vancouver courthouse on July 6, 2015, the firm identified him as a since-retired investment adviser who had worked there from February, 2001, to June, 2011. The accusations centred around two couples who had been his clients.

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