Gilles Latour Emails Clients After Being Arrested on Fraud Charges – Vows to Fight! Aug 21, 2014

Gilles Latour Emails Clients After Being Arrested on Fraud Charges – Vows to Fight!  Aug 21, 2014
gt bkCORNWALL Ontario – Gilles Latour reached out to his clients via email.   We received several of these forwarded to us today (info@cornwallfreenews.com) along with some very concerned messages by clients of Latour Wealth Management.
Dear ,
As you may have heard, I am currently facing legal challenges. I plan to vigorously defend myself against these meritless charges, and look forward to a swift and positive outcome.The charges have no relation whatsoever to the mutual fund side of my business and I am writing to you to assure you that your investments are completely safe and secure.All mutual fund investments are held with the each respective mutual fund company, and are provided by Equity Associates, a company completely at arms-length from Latour Financial Group. Equity Associates is used by many financial planners to ensure consumer investments are fully, completely, and securely protected.

In light of recent circumstances, please know that I do understand each and every one of my clients’ concerns. While I am legally unable to discuss details pertaining to the charges, I do wish to reassure each and every one of my clients that their investments are safe and secure.

To that end, I am providing the link to the Equity Associates website, where clients can verify for themselves the current value of their own individual investments, If you wish to do so, please simply log on to the Equity Associates website via the follwing link: https://wconnect.partnercenter.ca/ia/.

This service is, and always has been available to clients for the past several years, and is augmented by regulary mailed statements of your investments from both Equity and the mutual fund companies.

As you can imagine, the past two days have been very stressful for not only myself, but my family and my staff. I wish to take this opportunity thank you for your patience and continued support. I plan to have the office back to full functionality by tomorrow, and would be happy to personally meet with you to discuss any questions or concerns you might have.

Sincerely,
Gilles Latour
 Gilles Latour, CSA
Mr. Latour or his representatives have still not responded for comment to CFN as of press time.
However a quick search online shows that Equity Associates itself has had some consumer complaints.

The Ombudsman for Banking Services and Investments (OBSI) today announced the refusal of Equity Associates Inc. (‘Equity Associates’) to compensate a retired couple in the amount of $83,386.

Over the course of several months the advisor invested the couple’s house proceeds in various long-term medium and high-risk mutual funds which were unsuitable given their investment objectives and risk tolerance. As their new home neared completion, Mr. and Mrs. H repeatedly sought assurances that their money was safe and would be available for withdrawal. The advisor was evasive and attempted to persuade the couple to withdraw a lesser amount instead. Eventually, the advisor explained that their investments had significantly declined in value. Without sufficient funds to pay for their new home, Mr. and Mrs. H had little choice but to use their line of credit to make up for the shortfall.

OBSI finds that Equity Associates is responsible for the losses incurred by Mr. and Mrs. H as a result of the unsuitable medium and high-risk investments. Equity Associates allowed the advisor to open new accounts for the couple without collecting Know Your Client (KYC) information, as required by securities rules. As a result, Equity Associates could not assess the suitability of the investments as it was required to do. OBSI also found evidence that strongly suggests Mr. and Mrs. H did not sign the mutual fund purchase documents. It appeared that these documents were altered by photocopying signatures from other sources.

 

One client shared with CFN:
We as Clients are very concerned with Gilles Latour’s Present LEGAL CHALLENGES .
With Bernie Madoff and numerous other financial Advisors/Investors still fresh in our memories and the many financial ruin’s that entailed thereafter, trust in ones financial advisor is paramount .

When one is willing to entrust their financial future for  in their golden years ,INTEGRITY,HONESTY AND TRUST in ones Financial Advisor and Investor must be maintained and we believe that  under such circumstances only puts our financial future in doubt .
When asked if they were going to stay with Mr. Latour they said they would be consulting and asking questions.
If you have any information or wish to be quote in our updates email info@cornwallfreenews.com or call our hotline at 855 444 1133

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12 Comments on "Gilles Latour Emails Clients After Being Arrested on Fraud Charges – Vows to Fight! Aug 21, 2014"

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Hugger1
Guest

So, it seems Mr. Latour will be pleading not guilty. And probably being defended by some high priced lawyer from a big city. Heaven forbid he use a local lawyer.

I guess the mayor has missed a bullet. The first court date is in September. So, the trial will probably not start until the new year.

Here’s hoping justice is served and not bought off.

Wow!
Guest

I bet the idiots on the x-files are not having fun with us being right about the dropout. I don’t even know if you can get an insurance agent’s license and his bottom tier designation without a diploma.
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His letter reads like an admission of guilt with improper punctuation and grammer for a statement of such gravity.
.
Holy Gilles Latour indeed!

Highlander
Guest

Is this another Willy Wise in the making ?
DAMAGE CONTROL letter for sure !
Hey Cornwallites carefull where you put your trust and have due diligence and check to see if your pockets have been picked.

Trailblazer
Guest

What is disgusting is this ass is still looking at a way to come off as a victim. Just once, take responsibility for your action Latour, you made your bed now sleep in it. You can line up all the Sue Stuarts and Bob Peters you want and place them on your side for support BUT the truth is, people are starting to see what you and your click is all about, lying, cheating scum bags looking out for yourselves. Looks good on you.

Furtz
Member

Anyone with deep pockets who is facing serious charges will fight the charges. A good (expensive) lawyer might be able to poke holes in the Crown’s case or find irregularities in the police investigation, and get the charges thrown out. That’s the way our legal system works for the people who can afford it.

Hugger1
Guest

Agreed Furtz. Deep pockets and high priced big city lawyers. Will Latour get off scot-free or become another Willie Wise?

Furtz
Member

If he has enough money and the charges aren’t bullet-proof, he’ll get off. Sometimes the police will deliberately botch an investigation to get a friend out of trouble. Sometime a Crown Prosecutor will do the same for the same reason.

Simon
Guest

Guys like this don’t have money, they have other people’s money… that’s how they pay their lawyers. Ironic eh?

Hugger1
Guest

Simon….very well said.

jules
Guest

Simon is absolutely right just like what Willie Wise did and believe me Willie has plenty squirreled away. Willie is finished and so is Latour. Anybody with a brain will not go to him ever again. Anybody who can get their money out now go ahead before it is gone. Remember Willie Wise and this man is all part of the gang with Bare Ass.

Hugger1
Guest

Jules….don’t count your chickens before they are hatched. This case has yet to go to trial. Anything could happen to spring Gilles Latour from these charges….the police could screw up, the DA could screw up, etc. But here’s hoping Latour gets what is due.

jules
Guest

Hugger I do agree with you in what you said because I do not trust the Barney Fife PD since history speaks for itself. It is a mighty screwed up department in Cornwall. In my opinion and the opinion of many he is guilty as can be and people with half a brain would never risk having their money put in his hands at all whatsoever.

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