High-Pressure Bank Sales Just a Small Part of Scandals Involving OLG, Labour Ministry & Banks Handling Estates

  • Scotiabank knows about corruption inside Ontario’s Ministry of Labour,
    which now impedes Scotiabank from being prosecuted by Labour Ministry
  • Will banks downgrade credit ratings of dissident Ontario Lottery & Gaming employees?

The BIG PICTURE / By JOHN DEVINE

A hearing has begun in Ottawa, exploring concerns about Canada’s chartered bank employees being forced to perform immoral (some say illegal) acts, by being pushed by their bank bosses to sell deceptive financial products to customers who don’t need such products. The employees also say they’re being bullied by management for not following orders. See an overview of this matter in another Awakening article via this link.
There’s probably similar bullying being carried out by the OLG, such as under the roof of Casino Rama. It appears that all OLG / casino employees who become dissidents could end up on the “to-be-laid-off” list.

OTHER BANKING MISSTEPS TO CONSIDER

In another vein, an Awakening editor witnessed decisions made by the Royal Bank of Canada and the Toronto Dominion Bank, decisions which obstructed a police investigation into possible wrongdoings of a former Scotiabank employee (Don Haldenby). Notably, he left the Bank of Nova Scotia to open his own money management firm (Haldenby & Associates) to manage elderly people’s money, after a short stay at Burns Fry.
It was suggested to Yours Truly by a Bank of Montreal Employee that Mr. Haldenby went out the back door of the former Bank of Nova Scotia, (now the Scotiabank) due to irregularities discovered by the Bank of Nova Scotia.
Yours Truly, a Scotiabank shareholder concerned about Scotiabank’s image, felt that it was important to inform Scotiabank’s CEO, Mr. Porter, about the accusations the Bank of Montreal employee made. I asked Mr. Porter if Mr. Haldenby left the Bank of Nova Scotia on good terms. But Mr. Porter offered no reply.

SHEPPARD ESTATE FACTORS INTO THIS ISSUE

Furthermore, Yours Truly was appointed by Eleanor Sheppard to be a co-executor of the Estate of Eleanor Sheppard, along with Eleanor Sheppard’s money manager (Mr. Haldenby), the person under police investigation.
Shortly after Eleanor’s death, Yours Truly was asked by the OPP (Special Investigator Leon Jenkins) to approach the Royal and TD Banks and ask for copies of Eleanor’s Portfolios, which included her bank accounts.
The lawyers (for TD and the Royal Bank) decided not to assist the police, by refusing to provide the requested documents to the police.
The banks’ legal position was taken for fear of violating the Freedom of Information Act. The banks also were concerned of being exposed to legal action by Eleanor ’s money manager.
The money manager was responsible for opening her bank accounts in Toronto, and he was in sole possession of all documents pertaining to those accounts.

CROWN WOULDN’T ACT

Yours Truly also voiced concern regarding Eleanor’s Sheppard’s money manager gaining knowledge of the investigation and becoming a flight risk, which, in turn, created the risk of the manager taking money from other elderly bank customers whose portfolios he managed.
Meanwhile, the OPP went to the Crown attorney and asked for a search warrant to obtain the bank documents. The Crown, however, refused to issue the warrant, citing an alleged lack of reasonable and probable grounds.
But the problem which the Crown did not consider was that “the reasonable and probable grounds” were in the bank documents themselves!
Yet, about one year later, along with approximately 2,500 pages of documentation to support the warrant, the OPP finally obtained the warrant to access the bank documents. Subsequently, the police discovered forged documents in the portfolios of Eleanor’s bank accounts.
What we don’t know is what the banks did to ensure there were no irregularities, considering all the banking customers who were dealing with Don Haldenby—covering the time-span from immediately after Yours Truly visited the Royal and TD Banks, to the day the police arrived with a warrant—about one year later.
The banks had a year’s head-start over the OPP to act with due diligence on the bank accounts in question. It appears nothing was done by the banks in that year to find the forgeries.
Or maybe it is “legal” for the banks to do nothing upon gaining knowledge of possible criminal acts upon elderly bank customers whose assets were being managed by Mr. Haldenby?
Yours Truly once again had the occasion to approach the Scotiabank, regarding its business associate Penn National, a U.S. Corporation that operates Casino Rama, along with enforcement officers of the Labour Ministry allegedly violating the Ontario Health & Safety Act.
I wrote Scotiabank’s CEO Porter numerous times passing along all the details of what Yours Truly has witnessed, while detailing the obstructions and threats put upon our media outlet by Penn National and subsequently the OPP.
I suggested to Mr. Porter: Pass a brown envelope onto one of the publicly traded companies who own media outlets, such as Bell Canada Enterprises’ CTV. (Scotiabank’s Investment Branch (Scotia Wealth Management) buys and sells BCE shares).
Upon the completion of the Canadian Senate Committee’s hearings on the bank employees allegations about being pressured to engage in dishonest sales tactics (currently being heard) the Senate Committee may ask for an investigation by the Ontario Ministry of Labour.
This of course brings into question the ability the Labour Ministry to prosecute the Scotiabank—a bank which knows all about the corruption inside the Labour Ministry and that Labour became an accomplice to apparent criminal acts committed by Scotiabank’s business associate Penn National.
Awakening News asks: Are the Banks legally immune from all fiduciary responsibilities, when it comes to the protection of their customer assets?
It’d be hard to believe that the dissident whistleblowers working for the OLG have not all received, or may someday receive, a downgrading (by the banks) in their credit ratings, upon being laid off. That’d be par for the course.