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BCSC target Fielder avoids jail, must repay $144,500

2014-11-24 12:52 ET - Street Wire

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by Mike Caswell

Kelly Fielder, the Vancouver man criminally charged for defrauding an investor in a capital pool company, has pleaded guilty and received an 18-month conditional sentence, better known as house arrest. The judge has also ordered him to pay $144,500 in restitution. Mr. Fielder, 46, received the sentence in an appearance in the Provincial Court of British Columbia on Thursday, Nov. 20.

The charge against Mr. Fielder stemmed from an investigation concluded by the B.C. Securities Commission in 2012. The regulator said that he took money from a victim named Robert Davidson, claiming that the investment was for a capital pool company. After receiving the money, Mr. Fielder did not use it for the stated purpose. The charge that Mr. Fielder pleaded guilty to was one count of theft over $5,000. Police initially arrested Mr. Fielder on Oct. 24, 2012, and he had been free on $25,000 bail.

In the markets, Mr. Fielder has not had any associations with public companies since his arrest. He had been a director of Elcora Resources Corp., then a TSX Venture Exchange shell. He also had some sort of association with Vancouver promoter Walter Berukoff. One of Mr. Fielder's conditions of release after his arrest was that he may not associate with a number of individuals, one of which was Mr. Berukoff. (The others were Peter Katevitis, Vivian Katasuris, Arthur Iliffe, William MacDonald and James Munro.)

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