“Canucks Autism Network Chairman Facing Allegations of Securities Fraud”
North Vancouver securities attorney Bill MacDonald is under investigation by the Bar Association for his alleged role in market manipulation schemes.
North Vancouver securities attorney William (Bill) Lorne MacDonald, chairman of the Canucks Autism Network, faces an administrative fraud investigation by the Law Society of BC.
MacDonald tried to keep the investigation hidden from the public by petitioning the company to have it anonymized; However, a hearing panel at the company ruled on Jan. 30 that there was no reason to justify the motion.
MacDonald is a prolific participant in Vancouver’s investment industry, having served as a director or legal counsel to dozens of junior public companies since he was called to the BC bar in 1999. The company states that he recently retired from practice (at MacDonald Tuskey) and closed the firm’s physical office.
The Society conducted an investigation into MacDonald’s books and now alleges that he “collaborated in a fraudulent scheme to manipulate the securities market”.
With respect to three unnamed clients, MacDonald is accused by the Company of providing inaccurate information to another attorney and helping to facilitate “dishonesty, criminality or fraud in the use” of its trust accounts, including failure to conduct adequate investigations , if he should have known his escrow accounts were being used in a fraudulent scheme to manipulate the securities market.
MacDonald is also accused of “being unaware of becoming the tool or fraud of an unscrupulous customer” while also “failing to provide essential legal services” and failing to properly record and verify customer identification information.
The full citation was initially anonymized in December 2022 but now shows MacDonald’s name. MacDonald is specifically cited for moving millions of dollars through escrow accounts for clients suspected of criminal stock market manipulation.
A panel disagreed with MacDonald that posting his quote with his name would have negative repercussions for businesses and a charity he is currently involved with.
The society said the companies and charities have an interest in learning about the allegations. The society also noted that MacDonald’s “role in the corporations and charity does not outweigh the public interest in the publication.”
The Society noted a recent panel ruling against anonymization in the public interest – that of West Vancouver Mayor Mark Sager, who unsuccessfully opposed the publication of his quote because it would hinder his work as mayor and harm the residents of that city.
“While I believe there is some potential that the release of the defendant’s identity could have a negative impact on the reputation and finances of these companies and charities, I think it is speculative to say that this is more than a possibility,” the panel noted .
MacDonald chairs the Canucks Autism Network, which removed its board website on February 6. Neither the charity nor MacDonald’s office responded to Glacier Media’s request for timely comment on the allegations.
The summary of the claims, which remain unproven by a panel, do not imply the charity.
In 2019, MacDonald was suspended for two months after it was found that he had embezzled a total of $1,977 in trust funds.
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