What are some cases where a promoter received a life insurance policy from the late husband of a deceased investor and invested it entirely in the company he was promoting?
British Columbia, Canada
The following excerpt is from Osborne v. Harper, 2005 BCSC 1202 (CanLII):
The plaintiff also relies on Huff v. Price, where a promoter received the proceeds of a life insurance policy of the late husband of his unsophisticated investor, and invested it entirely in the stock of a company he was promoting. The plaintiff's counsel describes the conduct of the defendant broker as similarly unscrupulous.
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