Corporate Fraud
Casting a light on elder financial abuse on World Elder Abuse Awareness Day
June 15, 2020 – Elder abuse is a serious and growing problem. June 15 is the ‘World Elder Abuse Awareness Day’, which provides an opportunity for communities to promote a better understanding of the abuse and threats that older persons are facing by raising awareness...
OSC found Quadriga’s mysterious collapse was due to fraud
Toronto (June 12, 2020) – The Ontario Securities Commission (OSC) found out that the cryptocurrency exchange QuadrigaCX collapsed in 2019 due to a fraud committed by its late founder Gerald Cotten, according to an investigative report published on June 11. When the...
Surrey accountant banned for his role in real estate marketing scheme
Vancouver (June 8, 2020) – Mutual Fund Dealers Association of Canada (MFDA) banned Surrey accountant, Vasant Pragjibhai Patel, for his part in a high-profile real estate marketing scheme, for which he allegedly obtained $425,000 in commission. A hearing panel of the...
Five B.C. residents allegedly involved in US$15 million pyramid Ponzi scheme
Vancouver (May 28, 2020) – The British Columbia Securities Commission (BCSC) accused five B.C. residents of helping to promote a U.S. based Ponzi and pyramid scheme in connection with fake gold mining operations. Monita Hung Mui Chan, Sabrina Ling Huei Wei, Justin...
Facebook agrees to $9.5 million settlement over misleading privacy claims
Gatineau (May 26, 2020) – Facebook agreed to pay a $9.5 million penalty over a federal probe into misleading privacy claims. A Competition Bureau investigation found that the social media giant made false or misleading claims about the privacy of Canadians’ personal...
COVID-19 scams exploiting government funding programs such as CERB
May 22, 2020 – Many Canadians are experiencing financial hardship as a consequence of the current pandemic. The Canadian government launched the Canada Emergency Response Benefit (CERB) to help out Canadians throughout the Coronavirus crisis with a multi-billion...
BCSC longest-ever sentence for Venezuelan hedge fund investment fraud
Victoria (May 15, 2020) – A B.C. Provincial Court convicted James Warring Minnie, a.k.a. Terry James Minnie, for a Venezuelan hedge fund investment fraud and imposed the longest sentence ever resulting from a British Columbia Securities Commission (BCSC) criminal...
B.C. tech firm settles scam allegations for US$6.75 million
Victoria (May 7, 2020) – The B.C. e-commerce company, RevenueWire, reached a deal with the U.S. Federal Trade Commission (FTC) in connection with tech scam allegations. The Victoria-based company and its CEO, Roberta Leach, agreed to pay US$6.75 million to settle...
Man wanted for rental fraud in Toronto
Toronto (May 6, 2020) – Toronto police are looking for the 37-year-old man, Sungjin Kim, for multiple counts of fraud in connection with a rental fraud investigation. He allegedly defrauded 20 people while collecting first and last month’s rent for a room in Toronto,...
1,500 unauthorized COVID-19 test kits seized from Richmond online seller
Richmond (May 1, 2020) – In a joint effort, BC RCMP and Health Canada seized 1,500 unauthorized COVID-19 test kits from a Richmon resident. The accused allegedly sold the kits online to unsuspecting British Columbians. The investigation resulted from a tip provided by...
Investor Alert: Crestview Exploration mailing
Crestview Exploration mailing exploits fear of Coronavirus recession April 30, 2020 – Investment fraudsters are taking advantage of people’s fears of a Coronavirus recession and are using them to manipulate their victims. Aggressive stock promotion is a technique of...
Investment scams in the COVID-19 era
April 28, 2020 – The COVID-19 pandemic created an environment in which fraud thrives. People are self-isolating at home, economic and market volatility around the world, widespread job losses, and other stressors. These factors leave people with uncertainty,...
Suspects wanted in GTA roofing frauds
Toronto (April 21, 2020) – The Toronto police are looking for a group of people who are suspected to be involved in roofing frauds in the Greater Toronto Area (GTA) between January and February 2020. The suspects are accused of obtaining money from GTA residents for...
French bulldog puppy scam exploits COVID-19 crisis
Kitchener-Waterloo (April 14, 2020) – Waterloo police are investigating several puppy frauds. On April 11, the police received a report about the latest online French bulldog puppy scam. The victim lost $500 after answering to an alleged fraudulent online ad on a buy...
IIROC fined and suspended investment advisor for taking advantage of an elderly client
Calgary (April 9, 2020) – A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) fined and suspended Calgary investment advisor Michael Francis O’Brien on March 11. He engaged in personal financial dealings with an 81-year-old widowed...
Texas radio host sentenced for securities fraud
Dallas, U.S. (April 7, 2020) – Former Texas radio host ‘The Money Doctor’, William Neil ‘Doc’ Gallagher, was sentenced to 25 years in prison for securities fraud and money laundering. The 79-year-old reached a plea agreement on March 27. Gallagher admitted conducting...
How Coronavirus scammers prey on the global pandemic
April 6, 2020 – In Canada and internationally, virus scams are on the rise taking advantage of this time of crisis. The global pandemic has been a big business for Coronavirus scammers. Due to global fears, unemployment, and financial stress, the environment is ripe...
April Fool’s Day: These COVID-19 scams are no joke
April 1, 2020 – On April Fool’s Day, every year, a bunch of untruths pops up on the internet. Scammers also use untruths to trick their victims. Anyhow, these scams may feel like pranks, but they are no joke and have real consequences. Since the global Coronavirus...
Suspended paralegal arrested for allegedly defrauding First Nation residents
Whitby (March 2, 2020) – The Durham Regional Police arrested Pamela Milne of Whitby for allegedly defrauding First Nation residents. The paralegal whose license was suspended in 2016 was hired to file Human Rights complaints and locate missing land documents by...
Pickering man arrested for ‘Alepy’ cryptocurrency scam
Pickering (February 28, 2020) – The Durham Regional Police arrested Eric Hentschel from Pickering on February 19 in connection with the ‘Alepy’ cryptocurrency scam. Police alleged that Hentschel sold his fraudulent cryptocurrency ‘Alepy’ to investors and then...
Man accused of $60K investment fraud
Toronto (February 24, 2020) – The Toronto Police arrested Arash Mahdieh in September 2019 for an alleged investment fraud worth $60,000. The investigation is still ongoing since the police believe there may be more victims. After Mahdieh allegedly defrauded a Toronto...