A TD Canada Trust branch
Image Credit: WIKIMEDIA COMMONS
May 31, 2025 - 4:00 PM
A TD Bank financial advisor stands accused of transferring $150,000 of a client's money into her own bank accounts.
According to a May 21 Canadian Investment Regulatory Organization notice, Haimeng Wang is alleged to have used a client's online banking to make multiple transfers of cash to her and her partner's accounts.
The Surrey-based TD Bank financial advisor used a client's online banking login and password to add herself and other individuals as payees on the account.
Between February 2021 and December 2022, Wang is alleged to have transferred $152,819 to various accounts.
She paid her credit card and transferred money into her bank account. She's also accused of paying her partner's credit card, and another person's credit card, and transferring money into her partner's account and the other individual's.
The regulator said she then changed the email address in the client's account to her own.
She used the log-in details from a 71-year-old client, who was paid back by the bank.
READ MORE: Conflict of interest case against Kamloops city councillor dismissed
On Dec. 20, 2022, Wang resigned from TD Investment Services after an investigation was launched.
The regulator said she's not currently registered in the securities industry and is scheduled for a hearing on the matter, July 15.
While similar cases have resulted in criminal convictions, court records show Wang has not been charged with any offence.
Last fall, Summerland RBC manager Terry Lee Sedawie was jailed for three years after stealing $850,000 from elderly clients over a number of years. The senior account manager had worked for RBC for 25 years before she started defrauding customers.
In 2023, CIBC financial advisor Hope Moira Donna Thomas was given 12 months of house arrest after being convicted of defrauding an elderly client of $150,000.
Along with the accusation that Wang took the money, the regulator said she didn't cooperate when it began investigating.
At one point, she said she was out of the country due to a family emergency and would respond when she returned.
"Between August 28, 2023, and September 7, 2023, staff emailed and sent letters by mail to the (Wang) re-iterating staff’s request that (she) contact staff in response to its letters to schedule an interview. (Wang) did not contact staff in response to its emails and letters," the regulator said.
The Canadian Investment Regulatory Organization said it's unable to determine the full nature and extent of her conduct, and whether she has engaged in similar conduct with other clients.
None of the Canadian Investment Regulatory Organization allegations have been proven.
To contact a reporter for this story, email Ben Bulmer or call (250) 309-5230 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here.
News from © iNFOnews, 2025