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by Mike Caswell

The Canadian Investment Regulatory Organization has scheduled a hearing for Marc-Antoine Ladeiro, a former employee of Scotia Securities Inc. accused of misappropriating $354,700 from elderly clients. CIRO claims that Mr. Ladeiro used a fictitious name and created false records to move the money, much of which ended up in his personal account. The transfers occurred without the knowledge or approval of the clients, CIRO says.

The allegations are contained in a notice of hearing that CIRO released on June 4, 2025. The sole respondent is Mr. Ladeiro, who worked at a Vancouver-area branch of Scotia Securities. The events at issue occurred between Aug. 14, 2019, and Feb. 14, 2022, when Mr. Ladeiro was relatively new to the industry, having first been registered in June, 2018.

The case, as set out by CIRO, involved two clients, ages 88 and 90, who had accounts at Scotia Securities and at the firm's associated bank. According to CIRO, Mr. Ladeiro's scheme involved creating bank accounts using a fictitious name and the personal identity information of another person. Over a period of about two years, he used those accounts to move $354,700 from the clients, CIRO says. Some of the money came from the proceeds of GICs (or guaranteed investment certificates) as well as from redeemed mutual funds, according to CIRO.

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