Quebec's securities watchdog has suspended the licences of a West Island financial advisor and his investment firm.
David Glazer and his company Castle Rock Financial Group are under investigation for misappropriating more than 1 million dollars in deposits from at least 9 investors.
CTV Montreal reports the Autorite des Marches Financiers has moved to seize all the assets from Glazer and Castle Rock after receiving tips last fall that there were accounting irregularities.
It's alleged that instead of investing the money he received from his clients, Glazer used it to pay for his own personal expenses, such as bank loans, a personal mortgage and credit card bills.
According to documents from the AMF, Glazer was a representative for both Great-West Life and Quadrus Investments, but the two companies severed their ties with Glazer last November and requested a transfer of all his clients.
With files from CTV Montreal