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by Mike Caswell

A judge in the Provincial Court of British Columbia has sentenced former Wolverton Securities Ltd. broker Marcel Rada, ordering him to pay $5,000 for breaching an officer and director ban imposed by the B.C. Securities Commission in 2017. The BCSC had banned Mr. Rada over off-book investments that involved "basic dishonesty," with clients putting money into companies and Mr. Rada being the primary beneficiary of that money. The BCSC said that he violated that ban for eight years, or almost the entire time it was in place.

Mr. Rada received his sentence in an appearance before a judge in North Vancouver on July 15, 2026. There was no trial, as Mr. Rada previously pleaded guilty. The charges were two counts of failing to comply with a decision.

While the present proceedings were relatively straightforward, the matter has considerable history. In 2011, the Investment Industry Regulatory Organization of Canada cited Mr. Rada for a series of off-book investments that took place in 2007. According to IIROC, Mr. Rada solicited money purportedly for an investment in two companies, Ialta Industries Ltd. and Montrose Exploration Ltd., with much of the money subsequently paid to Mr. Rada.

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