News Release

Vancouver –  A West Vancouver man has received a suspended sentence after pleading guilty to one count of breaching an order of the BC Securities Commission (BCSC).

Frederick Johnathon Nielsen (a.k.a. Fred Gilliland), 74, appeared before a judge October 7 in Vancouver Provincial Court where he was ordered to pay $17,300 in restitution, representing the amount of money he obtained from his offence. He also is subject to two years of probation, including conditions that prohibit him from contacting the victims.

In 2011, Nielsen received a 25-year investment market ban as part of a settlement agreement with the BCSC for running a boiler room and trading without registration.

On July 8, Nielsen admitted that he breached that BCSC order in 2018 and 2019. He was charged in 2023 following an investigation by the Criminal Investigations Branch (CIB) of the BCSC. As part of his plea agreement, three counts of fraud and a second count of breaching a BCSC order were stayed.

Nielsen previously pleaded guilty to breaching the BCSC order in 2017 following a CIB investigation of his efforts to solicit investors in 2014.

About the BC Securities Commission (bcsc.bc.ca)

The BC Securities Commission, an independent provincial government agency, strives to make the investment market benefit the public. We set rules, monitor compliance by industry, take action against misconduct, and provide guidance to investors and industry. As guardians of B.C.’s investment market, we’re committed to maintaining a market that is honest, fair, competitive and dynamic, enabling British Columbians to thrive.  

Media Contact:
Elise Palmer
604-899-6830

Public inquiries:
604-899-6854 or 1-800-373-6393 (toll free)
inquiries@bcsc.bc.ca

Learn how to protect yourself and become a more informed investor at www.investright.org