Vancouver man ordered to pay back $29K obtained under false pretences, BCSC says
The B.C. Securities Commission logo in an undated file photo.
A Vancouver man has been ordered to pay $29,000 in restitution to two couples from whom he obtained the money under false pretences, according to B.C.'s financial markets regulator.
The British Columbia Securities Commission says Jeffrey Shaughnessy was arrested and charged in 2021 for crimes that took place between September and October 2017.
During that time, Shaughnessy "promoted investment in a Vancouver business conference that ultimately never happened," the BCSC says in a statement issued Wednesday.
Shaughnessy pleaded guilty to the Criminal Code offence of "obtaining credit by false pretence." According to the BCSC, he was given a three-month conditional sentence on June 30 and ordered to pay $19,000 and $10,000, respectively, to members of the two families who provided the money.
The commission says Shaughnessy will serve his conditional sentence "under supervised house arrest."
"He is prohibited from having contact with the victims and must not sell, promote, purchase, trade or distribute any securities, or engage in investor-relations activities, among other conditions," the BCSC says.
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