Securities Commission Seeks Extension of BG Wealth Group Cease Trade Order as Investigation Continues
The OSC seeks to extend its cease trade order against BG Wealth Group and its founders into 2026, keeping Craig Dunkerley and Claudia Harvey barred from raising money while investigation continues.
The provincial securities regulator is moving to keep the brakes on BG Wealth Group’s real estate investment business into the new year.
On September 23, the Ontario Securities Commission (OSC) asked the Capital Markets Tribunal to extend its temporary cease trade order against BG Wealth Group, its founders Craig Dunkerley and Claudia Harvey, and several affiliated companies until February 6, 2026.
The extension sought would carry the order through the one-year anniversary of the original TCTO issued on February 6, 2025. In the filing, OSC Enforcement says it is investigating Dunkerley, Harvey, and multiple BG-branded entities for possible breaches of Ontario securities law.
For investors, the order means Dunkerley, Harvey, and their companies remain prohibited from raising money, selling investments, or promoting new opportunities while the OSC investigates.
The regulator alleges BG Wealth may have been trading without registration and distributing securities without filing a prospectus. These are allegations only, and no charges have been laid.
BG Wealth once owned several commercial and residential buildings in downtown Owen Sound, including properties on 2nd Avenue East that went into receivership last year over millions in unpaid debts.
Tenants in those buildings have lived with uncertainty as the company defaulted on mortgages and fell behind more than a quarter of a million dollars in property taxes.
The OSC’s materials state that BG Wealth Group’s primary offerings included promissory notes, offering 16% annual interest, issued by BGRE Capital Corporation, and units in the BG Wealth Group Growth Fund.
The OSC says at least $2.9 million was invested in promissory notes and approximately $8,715,330 in the Growth Fund, and that some investors did not receive promised interest or distributions.
The filing also states that neither Dunkerley, Harvey, nor the BG entities have been registered with the OSC, filed a prospectus, or filed reports of exempt distribution.
The motion notes that the respondents do not oppose the extension request and asks the Tribunal to decide the matter in writing.
Order history
February 6, 2025: The OSC issued the original TCTO, halting trading in the securities of several BG-related companies and prohibiting any trading by the named individuals and companies, including acts in furtherance of a trade.
February 18, 2025: The order was extended on consent to February 25, 2025.
February 24, 2025: The Tribunal extended the order to October 6, 2025.
September 23, 2025: The OSC moved to extend the order further, to February 6, 2026.
The Owen Sound Current has previously reported that multiple companies tied to BG properties on 2nd Avenue East were placed into receivership in November 2024 due to unpaid debts, and that City records showed substantial property tax arrears across several BG-owned properties.
We have also received numerous reports from investors who stated that they were unable to redeem their principal or receive promised payments, starting in late 2023.
In past communications reviewed by the Current, Dunkerley attributed payment pauses and cash-flow issues to market conditions, higher interest rates, tenant turnover, and unpaid rents, and said investors would be repaid.
In a February email to investors, he stated that he believed BG Wealth Group was not required to register with the OSC due to the real estate focus of its activities. OSC filings state that neither he, Harvey, nor the entities have been registered.
The temporary cease trade order is an administrative measure. It does not represent findings of wrongdoing, and no charges have been announced.
While the order is in effect, the named individuals and companies are prohibited from trading and from any acts in furtherance of a trade, and trading is also ceased in the securities of the listed BG-related entities.
Ontario investors can check whether an individual or company is registered to sell investments and can contact the OSC’s Inquiries and Contact Centre at 1-877-785-1555 or inquiries@osc.gov.on.ca if they have concerns.
In June, The Owen Sound Current attempted to contact Dunkerley and BG Wealth Group staff after receiving solicitation emails the company allegedly sent to prospective investors in April 2025. They did not respond.
As of September 30, 2025, the BG Wealth Group website still offers to help investors “unlock real estate wealth” with an “innovative TurnKey™ system” designed to “make high-yield private investments accessible to all.” The phone number listed on the website goes to voicemail.
The Owen Sound Current has also pursued public records to better understand BG Wealth’s footprint locally. Earlier this year, we filed a Freedom of Information request with the City of Owen Sound under Ontario’s Municipal Freedom of Information and Protection of Privacy Act (MFIPPA), seeking documents related to BG Wealth’s properties. That request is now under appeal before the provincial Information and Privacy Commissioner.
We will continue to follow this matter and provide updates as the Tribunal considers the OSC’s request and as new information becomes available.
Related:
