SASKATOON – A CIBC investment deposit advisor in Saskatoon was fined after being involved in crime which caused clients to lose money.
The Canadian Business Administration Executive Group states that it has adopted a settlement agreement, including sanctions, by Troy Robert Nagy.
The company says over five years that a couple lost $ 806,000, about 34 per cent of their payroll – lost another couple of $ 163,000, about 40 per cent of the payroll.
Nagy introduced without trying to do so to ensure that his recommendations were suitable for both parts, including other investments that he did not fully understand.
The settlement agreement says Nagy would have to pay $ 30,000 worth and pay $ 5,000 and return to $ 695,000 in CIBC's compensation for both couples.
Nagy was shot in July 2016 and is not yet registered with the Management Company of the Investment Business Management Group. (CTV Saskatoon)