B.C. man who misused $40K from investor sentenced to 18 months probation
A B.C. man who misused a $40,000 investment has been sentenced to one and half years of probation.
Johny Panyavong, 30, learned of his fate in Surrey provincial court on Friday, exactly one week after pleading guilty to theft and using forged documents, according to B.C. Securities Commission.
In a release Friday, the agency explains Panyavong was arrested in Ontario two years ago following an investigation by its criminal branch.
BCSC was investigating him over allegations he solicited a $40,000 loan for investment in a Surrey real estate development in 2016.
“Panyavong used the bulk of the investor’s funds to pay personal expenses, and the development never materialized,” the release reads. “When asked about the status of the investment, he showed the investor forged financial documents.”
After Panyavong pleaded guilty to one court of theft over $5,000 and one count of using forged documents, a third charge of fraud over $5,000 was stayed.
Since the investor only received a quarter of the loan back, Panyavong has also been ordered to pay $30,000 in restitution to the victim.
His sentence of 18 months probation reflects nine days spent in jail, for which he got 1.5 days credit, rounded up.
“The nine days was split between Ontario remand after his arrest there, and B.C. remand prior to his initial bail hearing in B.C.,” BCSC’s Andrea Ross told CTV News.
Ross couldn’t comment on the terms of Panyavong’s probation, or why the third charge was stayed.
CTVNews.ca Top Stories
B.C. seeks ban on using drugs in 'all public spaces,' shifting approach to decriminalization
The B.C. government is moving to have drug use banned in 'all public spaces,' marking a major shift in the province's approach to decriminalization.
Orca calf that was trapped in B.C. lagoon for weeks swims free
An orca whale calf that has been stranded in a B.C. lagoon for weeks after her pregnant mother died swam out on her own early Friday morning.
Trump's lawyers try to discredit testimony of prosecution's first witness in hush money trial
Donald Trump's defence team attacked the credibility Friday of the prosecution's first witness in his hush money case, seeking to discredit testimony detailing a scheme between Trump and a tabloid to bury negative stories to protect the Republican's 2016 presidential campaign.
Sophie Gregoire Trudeau on navigating post-political life, co-parenting and freedom
Sophie Gregoire Trudeau says there is 'still so much love' between her and Prime Minister Justin Trudeau, as they navigate their post-separation relationship co-parenting their three children.
Air traveller complaints to Canadian Transportation Agency hit new high
The Canadian Transportation Agency has hit a record high of more than 71,000 complaints in a backlog. The quasi-judicial regulator and tribunal tasked with settling disputes between customers and the airlines says the backlog is growing because the number of incoming complaints keeps increasing.
More than 115 cases of eye damage reported in Ontario after solar eclipse
More than 115 people who viewed the solar eclipse in Ontario earlier this month experienced eye damage after the event, according to eye doctors in the province.
'I was scared': Ontario man's car repossessed after missing two repair loan payments
An Ontario man who took out a loan to pay for auto repairs said his car was repossessed after he missed two payments.
76ers All-Star centre Joel Embiid says he has Bell's palsy
Philadelphia 76ers All-Star centre Joel Embiid has been diagnosed with Bell’s palsy, a form of facial paralysis he says has affected him since before the play-in tournament.
U.S. flight attendant indicted in attempt to record teen girl in airplane bathroom
An American Airlines flight attendant was indicted Thursday after authorities said he tried to secretly record video of a 14-year-old girl using an airplane bathroom last September.