Vic Alboini, RIM Investor And Critic, Suspended And Fined

Vic Alboini, RIM investor and one of it's harshest critics, was hit yesterday with a $650,000 fine, given a lifetime ban as an investment dealer, and suspended for two years by the Investment Industry Regulatory Organization of Canada from Northern Securities.

Resulting from an investigation in 2008, the IIROC determined that Mr. Alboini, “engaged in a trading practice which improperly obtained access to credit for his client… and in doing so risked the capital (of Northern Securities and it's brokers)."

Also caught up in the reprimand is Northern Securities Chief Compliance Officer, Frederick Vance who was also fined and suspended.