WATCH: Four years after an arrest warrant was used by the U.S. Attorney, a Vancouver Island man has been arrested in Port Alberni. April Lawrence has more.
Port Alberni RCMP confirm they arrested Heatherington this weekend in cooperation with the RCMP Federal Serious and Organized Crime Unit.
The U.S. Attorney’s office in California issued an arrest warrant for Victoria resident Colin Heatherington in 2013.
Heatherington arrived at the Port Alberni courthouse for an appearance at 2 p.m. Tuesday afternoon but the proceedings were closed to the public, including media.
The U.S. Attorney indicted Heatherington and two others on charges of conspiracy to commit securities fraud and eight counts of securities fraud back in 2015.
The indictment claims as a result of the alleged fraud the victim hedge funds lost more than $200 million US.
Heatherington, originally from Vancouver Island, is listed as a resident of Spain who worked as a securities trader.
It says the alleged scheme was orchestrated by hedge fund manager Florian Homm. He disappeared in 2007 after being charged with investment fraud in the U.S.
He was arrested in Italy in 2013 but was released and fled to Germany where he remains a fugitive.
The U.S. hasn’t said if it is looking to have Heatherington extradited.
None of the charges have been proven in court, but securities fraud in the United States carries a maximum penalty of 25 years in federal prison.
Heatherington is also listed as a defendant in a civil case here in Victoria ? two women are seeking damages as a result of a car crash in February 2009 on McKenzie Avenue.