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

UPDATE: Two North Delta schools briefly in ‘hold and secure’ after report of weapon

Seaquam Secondary and Cougar Canyon Elementary were in ‘hold and secure’ for about 45 minutes

Charges dropped against officer who shot and killed Hudson Brooks in South Surrey

‘I feel like I’ve lost Hudson all over again,’ says mom

‘Men of Curling’ calendar features Surrey’s Tardi, who went rock climbing with a curling rock

Tyler Tardi, 21, now curls on men’s circuit, meaning he won’t play at 2020 nationals in Langley

Here’s why you may not have seen many federal election signs in Surrey

Earlier this year, Surrey council banned election signs on public property, highways

‘Jail’ time for Surrey business and community leaders in Crime Stoppers fundraiser

Metro Vancouver organization to host Jail & Bail event Friday at Central City’s outdoor plaza

‘I shouldn’t have done it,’ Trudeau says of brownface photo

Trudeau says he also wore makeup while performing a version of a Harry Belafonte song

35 of 87 dogs in 2018 Williams Lake seizure were euthanized due to behavioural issues, bc spca confirm

The dogs did not respond to the behaviour modification and remained terrified of humans

‘We still did not get answers’: Vancouver parents demand expulsion after students’ racist video

‘We were unable to get confirmation from the VSB, but he hasn’t returned as of yet,’ says Marie Tate

B.C. ‘tent city’ disputes spark call for local government autonomy

UBCM backs Maple Ridge after province overrules city

B.C. drug dealers arrested after traffic stop near Banff turns into helicopter pursuit

Antonio Nolasco-Padia, 23, and Dina Anthony, 55, both well-known to Chilliwack law enforcement

‘What goes up will come down’: Gas prices spike in Metro Vancouver

Petroleum analyst Dan McTeague says prices will fall Thursday

B.C. MLA calls on province to restrict vaping as first related illness appears in Canada

Todd Stone, Liberal MLA for Kamloops-South Thompson, introduced an anti-vaping bill in April

Chilliwack woman wins right to medically assisted death after three-year court battle

Julia Lamb has been the lead plaintiff in a legal battle to ease restrictions on Canada’s assisted dying laws

Most Read