A former Red Deer financial adviser has been charged with theft and fraud. Marc St. Pierre is accused of embezzling nearly $6 million in client funds. A Calgary man who worked as a financial adviser in Red Deer faces criminal charges, accused of embezzling nearly $5 million from clients over a six-year period.He is accused of stealing millions of dollars from clients while serving as a senior financial adviser with ATB Securities Inc.St.
St. Pierre also told the IIROC that the funds were transferred to personal bank accounts that he either owned or controlled. The majority of St. Pierre's clients were over 75 years old, according to the IIROC decision, which also states that ATB reimbursed every victim in full.
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