Surrey woman gets 30 days in jail for avoiding court hearing over $200K debt

Securities commission says Renee Michelle Penko still owes fines relating to Ponzi scheme

A Surrey woman has been sent to jail for 30 days after she failed to attend a court hearing during the B.C. Securities Commission’s “efforts to collect her outstanding fines,” the commission says.

Renee Michelle Penko was ordered by the BCSC in 2016 to pay an administrative penalty of $40,000 and to pay back $155,000, according to a release from the BCSC on Wednesday (Jan. 9).

The BCSC says Penko has not paid her fines, despite “persistent” efforts to collect them.

A collection order “ resulted in no assets” and BCSC said it also scheduled an examination in aid, which is to obtain information about the debtor’s ability to pay the judgment. Penko didn’t attend the examination in aid, BCSC said.

A subpoena to debtor – a collection step that requires debtors to provide information about their financial situation and can lead to a court-ordered payment plan – was issued to Penko on Nov. 6, 2018 but Penko failed to attend the subpoena to debtor hearing.

She was then required to appear in court on Dec. 4, but she did not show up. It was then that BCSC said it acquired an apprehension order but on Dec. 31, Penko “surrendered to the court.”

A judge, G.C. Weatherill, found Penko to be in contempt and sentenced her to 30 days in jail on Dec. 31 at the Supreme Court of Canada Vancouver courthouse. The court also ordered Penko to appear in New Westminster on Jan. 30.

BCSC says Penko, a former registrant, was a finder to recruit investors in a fraud operated by Thomas Arthur Williams, a former registrant permanently banned for fraud by a BCSC panel. Williams was ordered in 2016 to pay penalties totalling $21.8 million for defrauding more than 120 people out of millions of dollars.

RELATED: No way to make Ponzi fraudster repay B.C. victims, Sept. 1, 2016

In the BCSC’s 2016 sanctions, in addition to issuing fines, the securities commission “imposed conditions on (Penko’s) registration, prohibited her from purchasing or trading in securities, acting in management or consultative capacity in connection with the activities in the securities market, and engaging in investor relations activities, all with exceptions.”

BCSC also said Penko was ordered to resign from any position she holds as a director or officer of any issuer or registrant.” Penko’s “bans and supervisions” will remain in effect until Aug. 17, 2020. However, if she doesn’t pay it back by that date, her bans and supervisions will remain in effect until she pays.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating capital markets in B.C. through the administration of the Securities Act.



lauren.collins@surreynowleader.com

Like us on Facebook Follow us on Instagram and follow Lauren on Twitter

Just Posted

Surrey mayor says the RCMP has announced it will unionize

A spokeswoman for RCMP headquarters in Ottawa says it’s not yet a done deal

UPDATE: Surrey RCMP say missing three-year-old boy likely with his mother

Police appeal once again for information that will help them find Brycein Toane

Surrey man wanted on Canada-wide warrant for drug trafficking turns himself in

Police had issued a public appeal for information in mid-June

Cloverdale hockey player heads to World Cup in Czech Republic

Gavin Pooni, 15, will play for Team Canada West

Surrey brewpub’s 20th-year ‘Cask Off’ championship belt won by its head brewer

‘Jason’s Mimosa’ among crafty creations at annual competition

VIDEO: Clip of driver speeding past B.C. school bus alarms MLA

Laurie Throness of Chilliwack-Kent says he will lobby for better safety measures

B.C. Ferries vessel breaks down right before long weekend

Horseshoe Bay-Langdale route impacted most, revised schedule adds 4 a.m. sailings

Every situation is different, jurors hear at coroners inquest into Oak Bay teen’s overdose death

Pediatrician says involuntary treatment necessary following overdose, opioid use

Explicit sex-ed guide for adults mistakenly given to Creston elementary students

The booklet clearly states online and inside that the guide contains sexually explicit information

Driver has $240K McLaren impounded minutes after buying it in West Vancouver

Officers clocked the car travelling at 160 km/h along Highway 1 in a 90 km/h zone

Former Vernon Judo coach pleads guilty to child pornography charges

Bryan Jeffrey McLachlan is set to return to court Sept. 4 for sentencing

B.C. Olympic skier sues Alpine Canada after coach’s sex offences

Bertrand Charest was convicted in 2017 on 37 charges

Former Canucks goalie Roberto Luongo to retire

‘Bobby Lou’ calls it a career after 19 NHL seasons

Most Read