|Sharon Lexa Lamb|
Sharon Lexa Lamb, the former Senior Vice President and Director of Dundee Merchant Bank, admitted her guilt in the $450m theft of investments owned by Canadian pensioners, and pleaded for immunity from criminal & civil prosecution. immunity was not granted, and she subsequently has refused to cooperate in asset recovery efforts. She is a party defendant in a pending civil case in Grand Cayman; Dundee Merchant Bank is also a defendant in that cause.
Her admissions, which were made in the presence of the plaintiff, his Cayman attorney, and a whistleblower involved in tracking the missing assets, will have a major impact in two pending Canadian cases, Heath v. Leon Frazer and Associates, Inc*., and Heath vs. Northland Wealth Management, Inc**. These civil actions, filed in Superior Court in Ontario, seek documents from both defendants, in the plaintiff's efforts to find his missing millions, which were entrusted to both investment firms, and which were illegally transferred, without his knowledge and consent, to a shell company in the Cayman Islands.
The plaintiff states that Leon Frazer Director William Tynkaluk, who participated in the fraud, had a major role in the illegal transfers, and received substantial fees from the transactions, which constituted unjust enrichment, and breach of his fiduciary relationship with the plaintiff, as Tynkaluk was his wealth manager.
From unauthorized comingled Cayman bank accounts, the victims' assets were stolen by the Cayman Gang of Four*, a criminal organization led by Sharon Lexa Lamb, and which includes the two Canadian nationals, Derek Buntain, and the fugitive Ryan Bateman, and Fernando Mendes, who holds an expired Portuguese passport.
It is expected that, once documents have been produced, pursuant to court order, that actions for damages, and breach of fiduciary relationship, among other charges, are anticipated to follow, together with license revocation proceedings against both Northland Wealth Management and Leon Frazer and Associates. Complaints have already been lodged with the Ontario Securities Commission (OSC).
Lamb had a direct relationship, for several years, with both Leon Frazer and Northland, and it has been alleged that she conspired with both firms to steal millions of dollars from elderly, disabled, and retired Canadian pensioners, and that their investments and cash deposits have disappeared. We shall be reporting on the scheduled upcoming court hearings in both the Leon Frazer and Northland Wealth Management cases.
* Case no. CV-16-548521.
** Case No. CV-16-550303.
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