An Alberta married couple are wanted on national warrants for fraud

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An Alberta husband and wife are wanted on Canada-wide warrants in connection with an investment scam that defrauded victims in Alberta and British Columbia out of $1.3 million.

The RCMP said Fernando Honorate de Silva Fagundes, 65, and his wife, Emilia Alas-As Elansin, 40, have been charged with:

  • fraud over $5,000,
  • theft over $5,000,
  • laundering the proceeds of crime,

An investigation by the Alberta RCMP’s Integrated Market Enforcement Team (IMET) alleges that they operated a fake investment company called Family First Dynasty Inc. out of Millarville, Alta.

Fagundes allegedly presented himself as a day-trading expert and used an investment course — operated under another company of his, Day Trading Coach Inc. — to lure victims based in Alberta and British Columbia with investment opportunities that later proved to be fake.

Investigators determined that the victims of the fraud paid $1.3 million, but it was never invested.

Fagundes went by the alias Jovan Cavallon and Elansin under Janelle Cavallon. 

RCMP don’t know where the couple is, but saying that they’ve left the Millarville area.

Anyone with information on the whereabouts of either Fagundes or Elansin or related information is asked to contact IMET at 403-699-2434

The Alberta Securities Commission (ASC) said even the most sophisticated schemes usually present red flags and provided tips that investors should be on the lookout for:

  • Guaranteed high returns with no risk.
  • Pressure to make a fast decision. 
  • Promises of tax-free returns.
  • Requests to send money overseas. 
  • A vague company description, with little or no information about the management team.

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