Innisfail investors fear for their portfolios after murder charges laid in bombing case

At least a few Innisfail investors are concerned about their portfolios since their trusted financial advisor was charged with first-degree murder last week.

At least a few Innisfail investors are concerned about their portfolios since their trusted financial advisor was charged with first-degree murder last week.

Tara Redmond, a mother of five, lived next to Brian Malley — the suspect in the bombing death of Vicky Shachtay — for several years before Redmond and her family moved to a new home in the community.

Malley, 55, an independent contractor with the financial group Assante Wealth Management since 1998, is under investigation by the Investment Industry Regulatory Organization of Canada, the country’s securities regulator.

As of May 28, Malley’s client accounts were transferred to the Assante head office in Toronto. Assante’s compliance department is also conducting a comprehensive review of Malley’s client accounts. Malley’s registration with the IIROC was terminated this week.

Redmond and her husband had invested roughly $30,000 through a pension fund and education fund with Malley several years ago. They moved their portfolio to another broker because he was a close friend but Redmond said they still have about $4,000 left in her portfolio with Malley.

“I know I am not the only one in (Innisfail) who have money invested with the gentleman,” said Redmond. “I’m sure there’s 100 of them. There’s lots of people who have money with him. We don’t know what’s going on.”

Redmond’s husband has phoned the head office but has not received a response.

An Assante spokesperson said Malley’s cilents should contact Assante at 1-800-268-3200 and ask for national accounts, if they have questions.

Malley faces several charges in relation to the November 2011 Innisfail bombing that took the life of Shachtay, a disabled single mother in a wheelchair since 2004. Malley was a trusted family friend and financial advisor of Shachtay. RCMP will not comment whether there is a financial motive behind the bombing.

Malley will appear in Red Deer provincial court on July 9 to face charges of causing an explosive substance likely to cause serious bodily harm, death or serious damage to property, sending or delivering to a person an explosive device and one count of first-degree murder.

crhyno@bprda.wpengine.com

Just Posted

UPDATED: Officials tour Hwy 2/Gaetz Avenue interchange

Deputy Premier Sarah Hoffman and local MLAs visit construction site

Bike thefts becoming ‘significant problem’ in Red Deer

Residents are sounding the alarm on the growing problem of bike theft… Continue reading

Red Deer approves 10 cannabis retail stores

Locations approved around the city

One trillion litres of sewage leaked into lakes and rivers over last five years

OTTAWA — Last Wednesday, a team of people from the Lake Ontario… Continue reading

Woman bitten at Red Deer dog park

Dog owners reminded to control their pets

WATCH: A horse was neglected by its owner. Now the horse is suing

ESTACADA, Ore. - Justice is an 8-year-old American quarter horse who used… Continue reading

Red Sox old-timer’s memorabilia going up for sale

BIDDEFORD, Maine — Some items belonging to one of the Boston Red… Continue reading

Rival Korea leaders to meet in Pyongyang in September

SEOUL, Korea, Republic Of — The rival Koreas announced Monday that North… Continue reading

Charlottesville anniversary: Peaceful protests, few arrests

WASHINGTON — Thousands of people wanting to send a message that racism… Continue reading

‘I believe music heals people’: 12-year-old records tribute for shooting victims

YARMOUTH, N.S. — Twelve-year-old Josh Cochrane of Yarmouth, N.S., watched the news… Continue reading

Fallen officers’ families gather with Justin Trudeau after tragedy

The prime minister laid flowers at the growing memorial to the four victims of Friday’s violence

Fallen officers’ families gather with prime minister after tragedy

FREDERICTON — Prime Minister Justin Trudeau met with families of fallen Fredericton… Continue reading

Liberals showcase benefits of billions spent on infrastructure projects

OTTAWA — Little more than a year before the next federal election,… Continue reading

Fredericton parade ‘a way to celebrate even in the midst of this grief’: mayor

FREDERICTON — Two days after four people were gunned down in a… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month