Focus hearing adjourned for alleged fraudster

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TRURO – A former mutual fund salesman charged with fraud had a provincial court appearance adjourned on Wednesday.

John Alexander Allen, 48, had his lawyer request an adjournment for a chance to review further disclosure.

A focus hearing is scheduled for March 6 at 9:30 a.m.

Allen has entered a not guilty plea to eight counts each of fraud and breach of trust, as well as five counts of forgery.

He has elected to be tried by a Supreme Court judge and jury. A preliminary hearing is scheduled for June 24, 25, 27 and 28, 2013, at 9:30 a.m.

It’s alleged he cheated dozens of clients out of an estimated $14 million while working for Keybase Financial in Truro.

The Nova Scotia Securities Commission previously fined Allen more than $1 million following the incidents, which date to 2004.

Organizations: Supreme Court, Keybase Financial, Nova Scotia Securities Commission

Geographic location: Truro

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