Investors launch lawsuit against advisor, National Bank
Gray said his 29 clients lost about $36 million. They're seeking $40 million in damages. "They're frightened and scared and they feel betrayed," Gray told CBC of his clients.
In 2008, while working as an advisor at CIBC Wood Gundy, Saturley's clients lost millions of dollars because of a margin error, leading to his firing. He appealed that decision but the courts upheld the bank's move.
Neither Saturley or National Bank responded to CBC’s request for comment. None of the allegations have been proven in court.