Financial Murder of Cops

Financial Murder of Cops
Posted on October 4, 2018 | Larry Elford | Written on October 4, 2018
Letter type:

I received a call today from a Canadian victim of the “Canadian Pension Collapse”.  You have never heard of the Canadian Pension Collapse because it is done in secret, and kept secret by many well paid handmaids.

I will protect this persons identity by calling him Aaron. He worked over thirty years as a police officer and found himself and many of his colleagues being targeted by a Financial “Advisor” at a Canadian investment dealer.

The pitch was made that they should transfer their employment pensions over to the investment dealer and he would invest their money, presumably doing a far better job of making their pensions grow than their employers pension manager.

The “Advisor” did not tell Aaron and his co-workers that the employment pension plan was professionally managed by a licensed fiduciary professional, a true “Adviser” in law….and that the “advisor” who was making a pitch for all the retirement money of this policeman and his co-workers was not even holding the license of an “Advisor”.  How does that happen in Canada you ask?

It happens because of the thousands of professional handmaids, lawyers, regulators and self regulators who earn hundreds of millions of dollars, doing the bidding of banks and investment dealers, and not the bidding of public protection.  None of this tainted regulation is allowed to be whispered at this time. It is reminiscent of how for decades, no whisper of Bill Cosby abuses (or any other powerful person or entity) could reach the public.  

This is how pensions are collapsed in a developed country…using lawyers who work for bankers and regulators to secretly strangle the public interest. It breaks my heart to see when using our regulatory and justice systems to prevent justice becomes a hundred times more profitable than using those systems to enforce justice.  Don’t believe me? Buy a corporate lawyer a few beers and have one honest conversation.


So Aaron and others, succumbing to the sales pitch of a salesperson disguised as a financial professional, transferred over $500,000 of his “defined benefit” pension to a sales rep for a giant financial firm. A sales rep who was falsely portraying himself to have a license similar to the professional fiduciary advisers of the world.  The irony is that Aaron, as a policeman knows the elements of fraud quite well, and in fact has known of cases where a Doctor or a Dentist has been found to be a fraud, and that they were arrested and criminally charged with fraud.  Criminal fraud.

Taken away in handcuffs.

But this same fraud is today impossible to prosecute, to even charge, or to even imagine in a “see no evil” world of organized financial players, acting in a well orchestrated manner.

Aaron would not even learn of his fraud, the most common fraud in Canada until after 2010, many years later.  The fraud he then found out about, was of investment sales representatives pumping up false titles on their business cards, including the “Advisor” title, to fool members of the public into parting with their money and their trust.

Even when armed with the facts of fraud (easily documented facts) which are on the public record, the police still cannot do anything.  Such is the power in the "circled wagons" surrounding and protecting criminal acts by Canadian banks and investment dealers.

He in fact is being threatened and intimidated by lawyers for the investment industry, who are able to use the justifce system like a magic prevent justice in cases of crimes by those for whom the word crime must not be spoken...Interesting times we live in.

Aaron’s retirement money lost a couple hundred thousand dollars in the market meltdowns of 2008 and has never recovered, as the market has.  Fees, fees, and a few hidden fees.  The biggest hidden fee placed upon Aarons money was the 5% Deferred Sales Charge) (DSC) that earned his salesperson a $25,000 commission.  The other fees imposed by commission sales agents who pretend to be something they are not, are too numerous to burden this article with.  Suffice it to say that stock markets have recovered since 2008, and have doubled or tripled in some cases since that time, but Aaron’s investments have not. 

He says he would have been earned to a “defined benefit” of about $3500 per month if only he had stayed with his employers pension plan, and instead he lives now on about $1000 each month that he fearfully takes from his investments.


He was forced to move in with family, to pay off his borrowings as well, since the new, falsely titled financial advisor convinced him that the smartest thing to do in 2007 was to ALSO take out a mortgage on his home, and invest the proceeds of that mortgage into the investments chosen by this commission salesperson.

That is, in my opinion, perhaps the root cause of the collapse of Aaron’s financial security.  The root cause is the specific ability to rig financial systems in Canada, so that commission sales representatives of giant financial firms do not have to follow the same laws that must be followed by Doctors, lawyers, engineers, pilots, or pharmacists.  The fraud of license misrepresentation is simply not fraud when it is done by the most powerful entities in the land.  Or perhaps I should say it is fraud, but the justice systems have chosen to not touch the most powerful entities in the land.  That is perhaps the most amazing thing I have discovered in my three or four decade journey of discovery of how white collar crime works in developed nations. I saw it from the inside whilst employed within those entities, and only started to fully understand how it worked many many years after leaving them. It is that well conspired and concealed.

There seems to be so much money to be made in the financial industry, that breaking the law using self-regulators, paid regulators, and lawyers, among others, becomes something that can simply can be “purchased” at will.

This, in my view is the greatest act of using lawyers to prevent justice, of using professional handmaids to assist professional crimes. Of collapsing the pensions of Canadians…to enrich banks and bank commission salespersons.  Oh’…Canada…

PS.  During the time I worked inside the investment industry in my City of 100,000 people, there were two members of the Police Commission who concealed their salesperson licenses and falsely promised the public that they were investment advisory professionals... for which they held no license).

What is the public to do when the police can be robbed by organized schemes that are so clever as to be involved in the very administration of our policing?


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Investment Misconduct and Malpractice Analyst

Larry Elford is acclaimed as a qualified expert on the subject of White Collar Crime as it relates to the investment selling industry. He... More