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by Mike Caswell

The Canadian Investment Regulatory Organization has scheduled a sanctions hearing for former TD Investment Services Inc. employee Haimeng Wang, who CIRO claims took money from the account of a retiree. According to CIRO, Ms. Wang used the client's money to pay her own credit cards and to make deposits to her own bank account. The scheme, which ran for nearly two years, involved $152,819 in client money, CIRO says.

The allegations are contained in a notice of hearing that CIRO released on Friday, Aug. 14. The notice identifies Ms. Wang as a former TD employee who worked from a branch in Surrey, B.C. She no longer works in the industry.

The case, as set out by CIRO, arises from transfers from the account of a 71-year-old client, only identified as "YW" in the hearing notice. Between February, 2021, and December, 2022, Ms. Wang processed several electronic transfers from the client's account, CIRO claims. The money went to pay Ms. Wang's credit cards and to her bank accounts, or to those of her partner, according to CIRO.

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