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by Mike Caswell

An investigation by the B.C. Securities Commission has resulted in charges against West Vancouver's Frederick Johnathon Nielsen, with provincial prosecutors citing him for fraud and identity fraud, among other things. The charges come just over 20 years after Mr. Nielsen, who was formerly known as Fred Gilliland, pleaded guilty in a U.S. federal case that arose from a $29-million (U.S.) Ponzi scheme. He received five years in jail for that fraud.

The present case is set out in a brief news release that the BCSC issued late on Friday, Aug. 29. As with all criminal matters, the BCSC said almost nothing about the allegations or what led investigators to Mr. Nielsen. The regulator only said that the case relates to "conduct that allegedly took place in West Vancouver between February 2021 and July 2025."

The charges are one count of fraud over $5,000 against the Government of Canada, one count of theft over $5,000, two counts of committing identity fraud to circumvent a BCSC order and four counts of failing to comply with a BCSC order. Mr. Nielsen, who is now 73, appeared before a judge in the Provincial Court of British Columbia late on Aug. 26, 2025. The judge allowed Mr. Nielsen to go free on bond.

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