fbpx
Sunday, September 28, 2025

RBC hired wealth manager months after he faced a multi-million bankruptcy proceeding

By
Cosmin Dzsurdzsa
-

The Royal Bank of Canada (RBC) hired a wealth advisor in 2020 to manage millions in other clients’ funds only months after he filed a commercial proposal under the Bankruptcy and Insolvency Act (BIA) to pay a fraction of a reported debt totalling more than $2 million dollars.

A Government of Canada Bankruptcy and Insolvency Records Search obtained by True North shows that 42-year-old RBC wealth advisor Moize Goulamhoussen engaged in a commercial proposal for $2,102,872 in liabilities beginning on Nov. 5, 2019.  

During the proceedings, Goulamhoussen listed his total assets at $122,000 and successfully completed the proposal with his creditors – which included the Canada Revenue Agency.

According to Goulamhoussen’s LinkedIn profile, Goulamhoussen began his job at Royal Bank of Canada’s Wealth Management arm as a portfolio manager and wealth advisor in 2020. 

He states in his about page that he specializes in “tax savings solutions”, while his profile at RBC Wealth Management describes how his skills are “best suited for clients who have investable assets of over $1 million.” 

Goulamhoussen is currently embroiled in a court proceeding with his ex-wife Stefanie Goulamhoussen concerning a divorce settlement and support payments. Transcripts seen by True North from the Nov. 1, 2022 Ontario Superior Court hearing include allegations by Mrs. Goulamhoussen’s lawyer, Elliot Vine, related to alleged “fraudulent behaviour” on Mr. Goulamhoussen’s part and allegedly leaving “taxpayers on the hook” for unpaid debts. 

Goulamhoussen is not facing any criminal charges and the allegations have not been proven in court. 

Vine told Justice Lucy K. McSweeney that Goulamhoussen has left a tangled web of alleged financial inconsistencies, multi-million dollar home purchases, reported wealth transfers of vast sums and offshore accounts in tax haven countries. 

“In November of 2019 [Goulamhoussen] enters into a consumer proposal with the CRA, claiming that he had no way to pay his outstanding $1.5-million-dollar tax debt to the CRA. He ends up swearing that all he can afford to pay is about $275,000, he can’t afford to pay the rest of that,” said lawyer Elliot Vine. 

“So, the taxpayer’s on the hook for the 1.2 million, I guess. However, the evidence demonstrates that over the year of 2018 [Goulamhoussen] moved $1.4 million dollars overseas through his foreign exchange account,” he continued. 

“[He] has engaged in fraudulent behaviour and misrepresentation to the Court and the Canada Revenue Agency.”

True North reached out to RBC Wealth Management to ask whether they were aware that Goulamhoussen was involved in a BIA proposal for debts to the CRA just prior to his employment as a wealth advisor.

“Given the allegations are before the courts and RBC’s ongoing commitment to employee privacy we are unable to comment further,” RBC Wealth Management director of communications Greg Skinner told True North. 

“RBC requires employees to adhere to a Code of Conduct which is integral to the way that we conduct business with our clients. We have internal monitoring and compliance procedures that work to protect the integrity of our business and uphold both the trust of our clients, as well as the privacy of our employees.” 

Goulamhoussen’s public RBC profile as well as his LinkedIn account claim that he is a Chartered Investment Manager (CIM), a prized designation in the investment banking industry.

“In addition to achieving a bachelor’s degree in Economics and Political Science from McGill University, Moize has completed rigorous training for the Chartered Investment Manager (CIM) designation,” claimed the RBC profile.

However, according to the Canadian Securities Institute (CSI) – the chief body which accredits CIMs across the country – Goulamhoussen holds no such designation at the present time. 

“Moize Goulamhoussen isn’t an active CIM holder,” said assistant vice president of communication for Moody’s Corporation, the parent organization of the CSI, Tracy A. Fine. 

CSI’s Code of Ethics requires that CIM holders declare if they’re “currently bankrupt or in the past 5 years have been adjudged bankrupt,” including any consumer or commercial proposals they have entered. 

“The reasons for and the context of the consumer or commercial proposal would be reviewed by our Designation Ethics Committee. They may remove the designation where mismanagement and misconduct where factors that led to a consumer or commercial proposal,” Fine told True North in response to a general inquiry about the Code. 

“In the last year, CSI has sent 29 cases of potential misconduct related to the CIM designation. Sanctions included removing the CIM designation in two cases.” 

A CIM is also required to report “any legal action, allegations or complaints prior to being granted a designation and also each year upon renewal of that designation.”

“When a CIM applies or seeks to renew their designation, they are required to disclose any ongoing investigations or cases related to sanctions, professional misconduct, instances of bankruptcy or criminal offenses. All cases are referred to our external and independent Designation Ethics Committee,” explained Fine. 

In a follow-up question to RBC Wealth Management, True North inquired whether they were aware of the fact that Goulamhoussen wasn’t an active CIM holder but did not receive any further replies. 

Within the 163-page court document are an assortment of complex accusations levelled against Goulamhoussen by his ex-wife’s lawyer including a series of alleged transfers of wealth ranging from $530,000 to $1.4 million involving bank accounts in Dubai, Switzerland and an investment company in the Caribbean.

Goulamhoussen’s legal representation has denied any claims of wrongdoing and has insisted that he has complied with all court requirements and has fairly disclosed his financial records. An attempt by True North to contact Goulamhoussen and give him an opportunity to comment went unanswered. 

Mrs. Goulamhoussen also declined a request for an interview. 

The employment of Mr. Goulamhoussen by RBC raises a number of questions about the employer’s hiring practices which largely went unanswered. No answer was provided as to whether the bank was aware of Goulamhoussen’s settled proposal for debts owed to the CRA a few months prior to hiring him to manage vast amounts of other people’s wealth as well as the allegations levelled against him in a court of law. 

Last year, RBC Wealth Management underwent a shakeup at its highest levels with former vice-president and branch director Mike Weber being removed from his position due to his involvement in a lawsuit that alleged the branch had become a “boys’ club” where sexist behaviour was rampant. 

“The only one who can beat Olivia Chow,” Conrad Black emphatically endorses Anthony Furey

By
Noah Jarvis
-

Long-time media magnate Conrad Black, Lord Black of Crossharbour endorsed Anthony Furey in Toronto’s mayoral byelection, stressing that Furey is the only candidate who can beat the left-wing frontrunner Olivia Chow. 

In a National Post column, Lord Black applauded Furey’s ability to run a competitive campaign without being a career politician and lauded the policy platform Furey has released.

“As the only prominent person in the race who is not a career politician, Furey is refreshingly original in his views, and is the only overt capitalist among the principal contenders,” wrote Lord Black. 

The column harshly critiqued the other candidates in the race – rehashing Chow’s loss in the 2014 mayoral election, dismissing Mitzie Hunter and Ana Bailão, addressing Mark Saunders’ unpopular tenure as Toronto’s police chief, and belittling Brad Bradford’s $1 billion plan to install ineffective subway platform doors. 

Lord Black expressed great approval for Furey’s campaign promises to hire 500 more policemen, cut municipal taxes and expenses, and remove bike lanes on major roads.

“The only other candidate apart from Chow who at this point appears to have any chance of winning, the only one who will roll back the soft left consensus that has produced the deterioration of security in the subway, the increasing obstructive presence of drug addicts, homelessness, and assorted misfits, and an increasing crime rate… is Anthony Furey,” said Lord Black.

“We must not fail to seize this opportunity to take the next step in Toronto’s metamorphosis toward becoming one of the great cities of the world. Anthony Furey should be the next mayor.”

Furey, who is currently on leave as True North’s VP of content and editorial, has received endorsements from a number of high-profile figures in politics, business, and culture. 

Prominent psychologist and conservative commentator Dr. Jordan Peterson endorsed Furey’s campaign for Toronto’s mayoralty, expressing his unqualified support in a post to Twitter.

Other high-profile endorsements include former Harper-era cabinet minister John Baird, celebrity chef Mark McEwan, former Liberal MP Dan McTeague, and 2022 Conservative leadership contestant Roman Baber. 

Housing experts warn of another looming interest rate hike

By
Neil Sharma
-

The Bank of Canada (BoC)  is meeting on Wednesday to decide whether or not to hike its Overnight Lending Rate—but, rest assured, an increase is coming.

“Right now, I think it’s anyone’s guess whether they hike it, but they definitely won’t drop it,” said Daniel Johanis, owner of Pekoe Mortgages.

“They may wait another month to see what happens. If they keep it as is and they have to go a little harder and raise it in July, that will prolong the pain.”

The pain Johanis is referring to is that around this time last year, when the average mortgage amount was, according to the Canadian Real Estate Association, $711,000 and Canadians took advantage of low five-year variable rates, their mortgage payments were about $2,275 a month. Today their monthly payment has surge to $3,525.

If the BoC doesn’t implement a rate hike tomorrow, Johanis is positive the central bank will during its next meeting on July 12.

“If they put the breaks on right now, it will look like inflation in entrenched and the Bank of Canada isn’t doing its job and not being effective,” he said.

“I think they don’t want to give off that type of sentiment, that the bank isn’t being effective in controlling inflation.”

The BoC did state it would halt its rate-hiking regime if certain economic conditions were met, which they apparently haven’t.

Most observers even expected the central bank to cut rates before the year is over, however, Ron Butler, founder of Butler Mortgage in Toronto, says the central bank never made such a declaration. Such speculative chatter actually came from the marketplace.

“The Bank of Canada was scrupulous about not saying that,” Butler said. “This was purely market chatter.”

The reason another rate hike is practically imminent is inflation, which is presently 4.4%, remains stubbornly elevated and that necessitates more countervailing rate increases.

“The simple truth is if inflation continues staying what it is or keeps going up in tiny waves, if there’s a tiny increase in inflation next month, we’ll naturally see a reaction from the bank. That’s just the way it goes,” Butler added.

There is, however, one way to interest rates will come down.

“Inflation may not be here forever if we finally do enter a sustained, and obvious, and bad, recession; then inflation will come way down,” Butler continued. “Recession equals rates coming down; no recession equals either no change or maybe they go up.”

The Daily Brief | Satanic drag queen story hour performers?

By
Rachel Parker
-

A True North exclusive revealed that performers at a drag queen story hour for children at Pride Winnipeg celebrations posted extreme and satanic-themed content on their social media profiles.

Plus, Public Safety Minister Marco Mendicino says his office cannot overrule the Correctional Service of Canada’s decision to transfer serial killer Paul Bernardo to a medium-security prison.

And Elections Alberta insists a delay in results on election night was not caused by technical issues related to the tabulators.

Tune into The Daily Brief with Rachel Emmanuel and Lindsay Shepherd!

SUBSCRIBE TO THE DAILY BRIEF

What does Danielle Smith’s win mean for Alberta?

By
Andrew Lawton
-

On Monday night, Alberta’s United Conservative Party celebrated a big win, beating out Rachel Notley’s NDP and securing another majority government. Canadian Taxpayers Federation Alberta director Kris Sims joined True North’s Andrew Lawton for a post-election breakdown, looking back at the campaign and what its results could mean for Alberta.

SUBSCRIBE TO THE ANDREW LAWTON SHOW

Poilievre slams Liberal spending, threatens to block budget

By
Neil Sharma
-

The Conservatives are prepared to reign in the Liberals’ spending by whatever means necessary, its leader threatened Monday in the House of Commons.

“We will use all procedural tools at our disposal to block the budget from passing, including 900 amendments, lengthy speeches, and other procedural tools that are in our toolkit,” Pierre Poilievre said.

The Conservative leader is particularly incensed by the budget’s carbon tax increases, which he demanded the Liberals immediately jettison.

Moreover, he blames government debt for record inflation and soaring interest rates, arguing the only solutiom is a balanced government budget.

Citing John Manley, the former Liberal finance minister who blamed Prime Minister Justin Trudeau’s fiscal policy for difficulty containing inflation, Poilievre says the Liberals’ two carbon taxes will conspire at gas pumps to surge the cost per litre by 61 cents.

Poilievre also warned low-interest mortgages originated between the Bank of Canada’s quantitative easing program and its rate hiking-regime could result in defaults when a torrent of terms come due in five years.

“We could have people with million-dollar mortgages that are hit with three and four percentage point increases in their interest payment on those mortgages that’s $30,000 or $40,000 a year, which could potentially lead to a meltdown in the mortgage market,” Poilievre said.

“[The government] could help the Bank of Canada by getting rid of the deficit, bringing down inflation and interest rates.

“This is already a crisis, but it will become a massive financial crisis in the next several years if we do not bring the inflation and interest rates back under control.”

However, according to Ron Butler, founder of Butler Mortgage in Toronto, a crisis is not looming for the reason the Conservative leader stated.

Preponderantly, Butler says, mortgage rates will have declined by 2025-26, when the bulk of mortgages come due for renewal.

“I don’t buy it, it’s not even reasonable. The crisis is sort of happening now,” Butler told True North. “We could have substantially lower rates than today when we get there. In 2026, when people are coming off their low fixed-rate mortgages, about 17 per cent will never make it because they’ll have sold the house—that’s just the way it goes.

“Rates could easily be in the threes, maybe high threes, like 3.79 per cent, for sake of argument. After five years, they’ll be fine with 3.79 because they paid down a lot on their mortgage and they will have 30 year amortizations.”

However, Butler says the real crisis is runaway housing prices and how a sensible solution has not been presented to curtail them.

Additionally, if banks endlessly reamortize mortgages, Butler says it is conceivable people in their 50s and 60s could still have at least 20 years of mortgage amortizations.

“If banks keep reamortizing endlessly, when the hell is anybody going to pay off their mortgage? In some ways, it’s more sinister because every time you reamortize for a longer term, the bank makes more in interest.”

Elections Alberta says election night delay not caused by tabulators

By
Rachel Parker
-
Elections Alberta

Elections Alberta says a delay in results on election night was not caused by technical issues related to the tabulators, but rather the time it took to enter results manually. 

The election administrator used tabulators to calculate the advance vote because, for the first time this year, voters were able to vote in any advance poll in any riding across the province as part of the vote anywhere initiative. 

Elections Alberta said returning offices were responsible for reporting the results of the vote anywhere counts, which is a time consuming process. 

“Every location provides results for all 349 candidates. Before these counts are reported, they are generated from the tabulators, transcribed onto Statement of Votes and then input into our results site,” an Elections Alberta spokesperson told True North. 

“Every stage of this process is verified for accuracy.” 

Elections Alberta also said results from other jurisdictions may be reported quicker when using tabulators due to the electronic submission of results. 

“We did not use any electronic data transfer from the tabulators, as the tabulators used for advance voting were never connected to a network at any time. As a result it was a manual process to verify and enter these results.”

Elections Alberta will announce the official election results at 10 a.m. on Thursday, after conducting a thorough audit of all ridings. Those results will include recounts in  Calgary-Acadia and Calgary-Glenmore which were decided by less than 100 votes.

UCP incumbent Tyler Shandro lost the former by seven votes in last month’s election, while UCP incumbent Whitney Issik lost the latter by 30 votes.

If either party is not satisfied with Elections Alberta’s ruling this week, it can proceed with a judicial recount in which it will argue the specifics of each ballot before a judge. That process would take another month.

UCP spokesperson Dave Prisco said the party will wait until the official results are posted by Elections Alberta before making any further decisions.

Both Shandro and Issik were leading in the polls late into the night on May 29, until the advance vote came in and flipped the ridings to the NDP. 

Shandro was the Health minister during the Covid-19 pandemic, but was shuffled to the Justice minister before former premier Jason Kenney’s leadership review. He retained that file under Smith. 

Issik was Kenney’s Environment and Parks Minister, but had no portfolio in Smith’s government. 

“We need a law,” Pro-Life Canadians march to end abortion

By
Elie Cantin-Nantel
-

Every year, the National March for Life takes place in Ottawa on Parliament Hill – in which thousands of pro-life Canadians march to demand an end to abortion.

True North’s Elie Cantin-Nantel attended this year’s march and asked attendees about their reasons for being there and why they’re pro-life. He also asked them what impact they believe the overturning of Roe v Wade in the United States has had on the Canadian pro-life movement.

Canada is one of only a handful of countries with no abortion laws.

Woke Ottawa trustee goes on anti-Christmas tirade

By
Elie Cantin-Nantel
-

Ottawa public school trustee and renowned mask enthusiast Dr. Nili Kaplan-Myrth is back in the news – this time for going on an anti-Christmas tirade.

On Monday, Kaplan-Myrth claimed the City of Ottawa should not provide an extra garbage allowance during the Christmas season because it “should not be a free pass to consume and produce excess waste.”

She then claimed that referring to her statement as a rant was an act of anti-Semitism.

Kaplan-Myrth’s anti-Christmas tweets come amid attempts to reform garbage collection in the City of Ottawa.

The City is looking into adopting a “pay-as-you-throw” system, in which residents would be given 55 garbage tags per year to attach to garbage bags, and would have to purchase more for $3 each if they run out. 

The first two garbage bags would not have to have a tag, but a greater allowance of three tag free bags would be given on the first garbage collection after Christmas – amid more waste being generated during that period.

Progressive city councillor Ariel Troster tweeted out about the extra garbage allowance for the Christmas season – something Kaplan-Myrth took issue with.

“Why Christmas?” asked Kaplan-Myrth. “Christmas is not the only gift-giving holiday celebrated by Ottawans.” 

“Christmas should not be a free pass to consume and produce excess waste, if we’re concerned about the environment. I know you know this.” 

Kaplan’s Myrth received criticism for the statement on social media – with one user comparing her to The Grinch and Ebenezer Scrooge, two fictional movie characters who hate Christmas.

True North reached out to Kaplan Myrth for comment, who opted to respond to our request via Twitter. She doubled down on her statement and claimed that referring to it as a rant was anti-Semitism. 

“We should care about the impact of garbage on the environment every day,” she said. “A Jew asking a question isn’t a rant, but calling it a rant is antisemitic.”

She also claimed that the results of an Angus Reid poll that found 9 in 10 Canadians celebrate Christmas were “bogus.”

Kaplan Myrth – who previously made headlines for trying and failing to mandate medical masks on public school students, teachers and staff – has been focusing her efforts on opposing more police resources in schools – claiming black, Indigenous, and “2SLGBTQIA” people are counting on less police.

“When you hear about the issue of police in schools, do not be sidetracked by ‘anti-woke’ agendas. There are those who argue that the only way to tackle ‘violence’ in schools is by returning to police presence. That’s neither helpful, nor on the table,” said Kaplan Myrth 

“I will continue to advocate for us to address all issues in education from an equity and social justice lens.”

People frustrated with Kaplan Myrth’s behaviour and antics previously set up a petition calling on her to resign, with the latter receiving over 7000 signatures. The petition was however shut down by Change.org for “community guidelines in relation to hate speech,” after Kaplan Myrth demanded it be taken down. 

A subsequent petition was also taken down – amid Kaplan Myrth accusing the parent behind it as a bully and a dangerous person “fuelled by hate”.

Over the past several years – many progressives have actively tried to cancel Christmas. Recently, the City of Edmonton opted not to install a giant Christmas tree last Christmas – citing environmental factors.

Ratio’d | These people have CROSSED THE LINE

By
Harrison Faulkner
-

If it wasn’t clear before, it should be clear as day now — the radical LGBTQ activists have crossed the line.

During the opening night of a “LGBTQIA2S+” museum exhibit in Quebec City, a man exposed himself to children while lecturing them about “white supremacy.” While most Canadians would see such a display as a disgusting and arguably criminal act, the Quebec City Museum of Civilization along with its sponsors, including TD Bank, see it as a “contemporary art” display.

There is grassroots opposition to this depravity, but it’s not coming from conservative politicians in Canada. Instead, it is coming from parents who are pulling their kids out of school during pride month to protect them from the propaganda that schools and teachers are passionately dispensing at the expense of actual education like math and science.

Watch the latest episode of Ratio’d with Harrison Faulkner.

1...546547548...1,460Page 547 of 1,460

Related stories

© 2025 True North | Privacy Policy