To Steal a Billion Dollars...a Week ...How 10,000 Regulators Will Help | Unpublished

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Unpublished Opinions

elford's picture
Lethbridge, Alberta
About the author

His 2018 Book "About Your Financial Murder..." is found on

Investment Misconduct and Malpractice Analyst

Larry Elford is acclaimed as a qualified expert on the subject of White Collar Crime as it relates to the investment selling industry. He is a retired CFP, (Chartered Financial Planner), a CIM, (Certified Investment Manager) by the Canadian Securities Institute, a FCSI, (Fellow of the Canadian Securities Institute), the highest designation awarded by the Canadian Securities Institute to those for top achievements in educational and industry accomplishments. He is also an Associate Portfolio Manager and Director of the Canadian Justice Review Board of Canada. 

Larry worked inside the largest financial institutions in Canada for twenty years until his retirement in 2004. He works today writing, speaking and coaching Canadians on how to create safe and honest treatment for investors. 

Larry Elford is also an author. He was included in John Lawrence Reynolds’ second edition bestselling book, The Naked Investor, Why Almost Everybody But You Gets Rich On Your RRSP and Bruce Livesey's  2012 book, Thieves of Bay Street, How Banks, Brokerages and the Wealthy Steal Billions from Canadians. He self-produced a documentary film, Breach of Trust, The Unique Violence of White Collar Crime, to benefit investors, legislators and those who investigate financial crime.  It can be viewed on Youtube.     


Twitter:    @RecoveredBroker

Facebook group for Fraud victims

Facebook group for Fraud victims across Canada (Small Investors Protection Association of Canada, 1998)

Video site for victims of investment malpractice    research site

His first book is Titled "ABOUT YOUR FINANCIAL MURDER..." detailing the extent of financial abuse of the public attributable to a "self" regulated investment industry.

His second book, published in April of 2020, is "Farming Humans"   and is about "How to quietly strip America bare of the truth "all men are created equal”, found in the U.S. Declaration of Independence, in less than 250 years….


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To Steal a Billion Dollars...a Week ...How 10,000 Regulators Will Help

April 10, 2018

Research for the book "ABOUT YOUR FINANCIAL MURDER..." tipped me off to this lawyers, regulators, and investment dealers trick to shortchange millions of investors in Canada and a hundred million in the U.S.

I think it is the best orchestrated Bait and Switch in the world and I hope it will save your financial future by learning how to spot it.

Enjoy a laugh at the 1 minute video below, and let it compell you to learn how not to be fooled by the next fake advisor who comes along to sell you products.

Banks and investment broker-dealers in Canada and the US are playing a perfect game of Bait and Switch with your life savings.  Here's how that works.

You walk into any Mutual fund Company, Insurance company, Bank or investment dealer with a few dollars in your pocket and a desire to get professional investment advice from them.

They give you brochures and business cards, as well as verbal promises that they are licensed and regulated professional advisors and that they will be your trusted guide to financial success.

How are you doing so far, does that sound about the way it happens?  What you have just seen or heard is the "bait."

Now here's where the "switch" happens and it is done beneath the table so as to never allow you to see it.  

The bank, broker, or investment seller has just promised you a professional financial "advice provider", and in over 90% of the time, what they actually deliver is a commission sales agent who does not have a fiduciary duty to represent the interests of you the investor.

The bait is what you are lured with, to give up both your money and your trust.  The switch is what you are actually given.  The game is fraud, however the financial industry in Canada and US picks, appoints, pays or influences over 10,000 securities regulatory employees to insure that none of this fraud gets carried over into criminal codes or prosecutors.  It must all be "handled in-house" to get away with the bait and switch.

Extensive effort is dedicated to this topic, by more than a dozen articles, videos etc under the name Larry Elford to give sources and details.  

The "Cheating" by fraudulent Bait and Switch is then turned into a customer "Beating" when a legit complaint is made and things end up in court.

The photo image is from legal study into thousands of customer complaint cases that made their way to the courts.  In the first image titled "SUMMARY OF TYPICAL ALLEGATIONS BY PLAINTIFF" is a summary of what the typical investor believes and makes complaint about.  It seems reaasonable because the complint is based upon what he was led to believe he was getting.

The second image titled, "SUMMARY OF TYPICAL DEFENCE" show the typical legal response to an investor complaint.  

What is NOT shown, so therefore is NEVER claimed by any abused investor, is that the information, promises and representations by the investment dealers, almost always led the investor to believe he or she would be given the professional services of a registered and regulated Financial services advice giver.  An "Adviser", as is found in law in either the United States or Canada. (in Canada they must be registered as an "advising representative" to be able to put themselves forth as advisors or adviser.

The clever trick (and the fraud) is to not allow the customer a clear, true and plain disclosure about what is being promised and ALSO ABOUT what is being provided.  Hence the ease with which each retail investor falls for the bait and switch. They don't know what they don't know. They are led down the garden to speak by the banking, insurance or investment firm.

"Welcome to my parlour, said the spider to the fly"

When the trial comes around, the firm fails to reveal (for a second time) the fraud. The investor is not apprised of it (for a second time) and they find themselves beaten in court, after being cheated out of money or rightful investment returns.  This problems affects over 100 million investors in North America and it is a fraud of epic proportions.

Each regulator (over 10,000 employed at SEC, FINRA, SIFMA, NASAA, OSC, BCSC, ASC, and so on...who are paid anywhere up to nearly 3/4 million dollars at the top) turns a blind eye to the consumer fraud, in return for their own job security. (most are picked and paid by industry so it is either do what they say...or else...)

Police do not deal in this fraud because the "self-paid" industry regulators "have it covered."

I am obviously a biased source of info on this next point, but my advice is learn what you can, and to employ a lawyer who is fully versed in securities and regulatory matters...INCLUDING this retail BAIT and SWITCH.  The complete story can be found in the book below.  Best of luck to your investing.