Missing man left financial quandary
Former Olympic rower was mutual fund dealer; clients say he lost their money
Harold Backer, who has been missing since Nov. 3, may have left the country as a result of financial mismanagement that has cost his clients a considerable amount of money.
The 52-year-old Backer, who is registered as an active mutual fund dealer with Investia Financial in B.C. and Ontario, was listed as missing last week by Victoria police.
Some of Backer’s clients, who asked to remain anonymous, told the Times Colonist it looks as though they have lost a substantial amount of money due to his actions.
It is unknown how many clients are affected.
According to Canadian Securities Administrators, the umbrella group that brings together the country’s various provincial securities regulators, Backer was an active dealer with Investia but under the terms and conditions of his registration he had agreed “to be closely supervised.”
The Mutual Fund Dealers Association did not return calls Monday to clarify what that meant.
According to a spokesman, the B.C. Securities Commission cannot comment on whether a complaint has been made against a dealer or if an investigation is ongoing.
Before leaving his home, Backer, an avid cyclist, told his wife he was going for a bike ride, likely on the Galloping Goose trail.
Police believe a man matching Backer’s description left Victoria on the Coho ferry to Port Angeles on Nov. 3.
Friends have travelled to Washington state to look for Backer and a Facebook page has been set up to gather information about the search. In a post to that page, a friend said he had travelled Hurricane Ridge Road and checked bicycle shops in the area but there was no sign of Backer on the challenging cycling route near Port Angeles. Backer had expressed an interest in cycling there.
On Monday, Victoria police announced they are working with U.S. law enforcement agencies to find Backer.
“Both through our efforts and the fantastic support from our U.S. law enforcement partners, such as the Port Angeles Police Department, we continue to receive tips that we’re working with now,” said Det. Sgt. Kris Rice in a statement. “Tips are important in a missing persons file like this and sometimes it is the smallest detail that helps.”
Backer is a three-time Olympic rower, competing in 1984, 1988 and 1992. He is described as a 52-year-old white man standing six feet, three inches tall with a medium build. His eyes are green and he has greying hair.
It is believed he was wearing a red cycling jersey, black riding pants and perhaps carrying a black backpack. He may be riding a black Cannondale road bike.
If anyone sees Backer, police are asking they call 911; if anyone has information on his whereabouts, they are asked to call 250-995-7654.