Fred Gilliland, now Frederick Nielsen, is arrested in Point Roberts in 2005
|Frederick Johnathon Nielsen, 65, was led away in handcuffs Sept. 25 following the sentencing by a judge in North Vancouver provincial court. Nielsen has a long history of swindling the public and ignoring securities regulations. He was sent to jail for six months after pleading guilty to breaching an order of the B.C. Securities Commission.|
|Nielsen had been banned by the securities regulator more than six years ago, but that didn’t stop him from diving back into the same crime with a new boiler room between December 2013 and April 2015. But that was far from his first brush with the law. Nielsen is a chronic, repeat offender.|
Back in 2001, Nielsen – who was then Fred Gilliland – was charged in the U.S. for a massive investment fraud scheme in Florida. Gilliland fled to West Vancouver, where he lived a lavish lifestyle while stalling extradition. Eventually he was lured across the border by a disgruntled investor and arrested by U.S. authorities in 2005. He was handed a five-year jail sentence and ordered to pay $12 million in restitution to his fraud victims and a $10-million regulatory penalty. The fines remain unpaid.