Ryan Bateman, the Canadian securities trader who fled the Province of Alberta years ago, after his role in securities fraud was exposed, has been found in the latest release of the "Panama Papers." Bateman had the law firm of Mossack and Fonseca form two companies for him, one in the British Virgin islands, and the other in the Republic of Panama.
The Panamanian company, which bears his last name, as do many of the other tax haven companies he has formed over the past dozen years, has a curious feature. Where the names of directors are listed, Bateman cleverly (or should we say deceptively) entered "Bearer." This means that whosoever holds the physical stock certificates becomes a director of his opaque corporation. Nowhere in the Public Records of Panama can one find any individual's name, other than those of Mossack and Fonseca staff members who formed the company.
Mr. Bateman, who had a major role in the disappearance of over $400m of investments, and capital, of dozens of Canadian retirees, had significant links to both Leon Frazer and Associates, Inc., the two Canadian brokerage and wealth management firms that are the subject of two civil suits, in Ontario, demanding access to information, filed by a client, who is among the class of victims who have sustained huge losses, through theft of their assets. Bateman himself remains a fugitive from justice in the Cayman Islands.
Bateman had a close relationship to Leon Frazer Director William"Bill" Tynkaluk, who recommended him, notwithstanding Bateman's long and disturbing history of fraud, which includes failed offshore oil exploration schemes, pumping up penny stocks through churning sales, and taking unauthorized possession of funds of non-clients, and trading with them in his own accounts at US banks.
|Leon Frazer Director Tynkaluk|
Tynkaluk has repeatedly been the subject of investigations, conducted by the Ontario Securities Commission (OSC) and repeatedly recommended stocks to the victims, using inside information that was not publicly available on Canada, though the victims declined to make such purchases. After his name surfaced in several news articles, he unsuccessfully attempted to interfere with a victim's Canadian medical coverage, in a petty display of manipulation that is unbecoming to any officer at Leon Frazer.
Bateman is one of the group of fraudsters and financial criminals known as the Cayman Gang of Four, which includes former Dundee Bank Senior Vice President Sharon Lexa Lamb, former Dundee President, the Canadian Derek Buntain, and Fernando "Moto" Mendes, the current MD of B & C Capital, Ltd., the Cayman Islands-based shell company that reportedly was used by the Gang to steal the victims' money and securities. Some whistleblowers believe that William Tynkaluk* should be considered a member of the Gang of Four, as he reportedly acted as their adviser.
The Cayman Gang of Four met some of their victims in Ontariot, which had taken over management of victim assets from Leon Frazer. Both wealth management firms have refused to turn over clients records, resulting in the filing of the companion civil suits. No criminal charges have as yet been filed.
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