Harold Backer released on bail
A grizzled and gaunt Harold Backer has been released on $50,000 bail.
The former Victoria mutual fund salesman, who disappeared in late 2015 leaving several clients claiming he cost them millions of dollars, was released Monday on conditions which included surrendering his passport and abiding by a curfew.
Wearing grey sweats and orange Crocs, Backer was picked up outside the Victoria courthouse by his son. He did not answer questions about where he had been or why he chose to come back now.
Backer, a former Olympic pandora charms anniversary rower, turned himself in to Victoria police on April 13 after being declared missing since November 2015. He faces charges of fraud over $5,000.
Bail conditions imposed Monday require Backer to surrender all travel documents and to live with his mother, Anne Randi Backer, in Chemainus. each day, report to a bail supervisor each week and avoid contact, other than through lawyers, with 15 former clients and friends, including some family members.
Backer is not being allowed to trade or purchase securities other than for himself, he must resign any positions within the investments market and cannot engage in investor relations. in Victoria.
Shortly pandora official after Backer disappeared on Nov. 3, 2015, several clients, including silver bracelet pandora family members, received letters from him expressing remorse for decisions that had cost them money.
Backer's letter said he started his own firm My Financial Backer Corp. in 1996. He wrote that market based funds he sold lost as much as 45 per cent of their value during the dotcom crash in 1999 2000.
Backer is also facing a civil action.
The Carr family, who were long time Backer clients, have filed suit against Backer and his former employer, Investia, claiming he has cost them more than $1.2 million.
The lawsuit alleges that Investia owed a duty of care to its clients to ensure Backer was properly supervised, especially after the Canada Revenue Agency won a judgment against him for more than $200,000 in 2004.
Investia has denied it had any responsibility for losses because the transactions that caused them were carried out by Backer off the books.
In December, the court ordered CIBC, the bank used by Backer, to provide all records, documents, related bank accounts, loan accounts and credit card accounts in the name of Harold Backer or pandora jewelry where to buy My Financial Backer.
The Carrs say they hope the court order will shed light on Backer's "off book" work.
That order includes all statements between January 1999 to the present, all cheques written in that period as well as all deposits into the accounts and records of all transactions.
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