CORNWALL, Ontario – A financial adviser and former high-profile Cornwall advocate finds himself in more trouble.
Gilles Latour will attend a hearing by teleconference in February to face more allegations from the Mutual Fund Dealers Association of Canada (MFDA) concerning $652,000 he is alleged to have accepted or solicited from so-called “vulnerable” clients.
Some of the clients are elderly, with ages of 80, 87, 90 and a 64-year-old widower.
The MFDA alleged Latour has not repaid the money.
None of the allegations have been proven and are separate from criminal proceedings he is facing.
The February meeting will allow parties to set dates for a formal hearing.
In addition to the missing money Latour is also being accused of being unco-operative with MFDA officials and their investigation.
Latour was in hot water with the MFDA back in the fall of 2014, but later had his securities hearing suspended because he was no longer a salesperson of mutual funds.
Latour is back in court this summer, where he will take part in a preliminary hearing concerning multiple charges of fraud, theft, breach of trust and obtaining an investment by false pretenses.
Latour was once a high-profile member of Team Cornwall and led that organization, which advocates on behalf of the city, for many years.
