Second man arrested in TIE Mortgage fraud case

Police have arrested a second man accused of being part of the $27 million TIE Mortgage Corp. fraud. The Alberta Securities Commission says that Kenneth Charles Fowler is being brought back to Calgary from Mexico where he was detained. He is accused of fraud and other charges relating to the sale of TIE Mortgage securities. The first man arrested, Douglas Wayne Schneider pleaded guilty last summer to making misleading statements, trading in securities without registration and for not having a prospectus for distributions of securities he was trading; he was sentenced to a year in jail but fraud charges against him were dropped.

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