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by Mike Caswell

Brent Pierce has done nothing to show that he suffered any loss in an alleged $11.5-million mortgage fraud, claims a numbered B.C. company. The company questions Mr. Pierce's credibility, calling him a "serial fraudster" who appears to be hiding his assets from the U.S. Securities and Exchange Commission. He is subject to a $7.2-million (U.S.) disgorgement order from the SEC and has been the subject of prior sanctions from the B.C. Securities Commission, the company points out.

The numbered company, 0948490 B.C. Ltd., is responding to a petition that Mr. Pierce filed in the Supreme Court of British Columbia on March 29, 2016. Mr. Pierce claimed that he was the victim of a mortgage fraud. He said that his family trust indirectly held mortgages over two properties, one in Surrey and the other in West Vancouver. The mortgages were in the names of entities that he ultimately entrusted to his second cousin, a lawyer named Gary Clark. The problem, according to Mr. Pierce, was that Mr. Clark released the mortgages for no apparent reason. He did so without permission, the petition claimed.

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