Richard Good has been sentenced to two years of probation, which includes a term of house arrest, said the British Columbia Securities Commission.
Good was convicted of breaching an order of the BCSC.
On May 5, 2020, Good was sentenced in Salmon Arm for engaging in investor relations, despite being banned by the BCSC in 2007.
At the sentencing hearing on May 5, the judge cited the novel coronavirus pandemic as their reason to give Good a sentencing of probation instead of jail time.
Good is allowed to leave his home for only one hour per day, per his probation terms.
In 2007, Good was banned from all investor relations activities, stemming from a $2.4 million investment scheme that Good orchestrated.
In that scheme, Good entered into investment contracts with promises of high returns, said the BCSC.
According to the BCSC, Good only invested a fraction of the money that was given, using the rest for personal expenses and to return purported interest and capital investments to some investors.
Following an investigation done by the BCSC’s Criminal Investigations Branch, Good was charged in 2019 for breaching the 2007 order, and in March 2020, he was convicted.
The judge found Good guilty of breaching the order when he enticed a woman to invest her money through him, in 2013 and 2014.
The woman was living with Good’s best friend and brother-in-law at the time, and she was promised high returns for her investments, according to the BCSC.
However, most of her investment funds went to Good’s personal expenses, with only a small amount being actually invested.
The judge found that “the breach was deliberate and premeditated,” adding, “in 2007, Mr. Good was exposed as a swindler and con artist. By that time, lying was a way of life for him and there is no indication that he has changed.”
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in B.C.