Two GTA men charged for ‘high value fraud’ in connection with bakery deal

Toronto (December 3, 2019) – Toronto police arrested and charged two operators of Easton Pharmaceuticals Inc., Vincent DeMasi and Evangelos Karayannopoulos in connection with a Toronto bakery ‘high value fraud’. The police accuse the men of purchasing the business...

Ontarian sentenced for Dominican resort Ponzi scheme

San Francisco (November 28, 2019) – A Northern California court sentenced Derek Elliott from Ontario to two years in prison. In September 2012, the Canadian was charged with conspiracy to commit fraud for his role in a Dominican resort Ponzi scheme. Elliott and his...

Securities panel finds two B.C. men committed fraud through Ponzi scheme

Vancouver (November 26, 2019) – The British Columbia Securities Commission (BCSC) panel found Todd Norman John Bezzasso and his companies, Bezzaz Holdings Group Ltd. and Nexus Global Trading Ltd., committed fraud against 85 investors using a Ponzi scheme. He raised $5...

Charges laid against Saskatoon investment dealer for fraud worth $2M

Saskatoon (November 19, 2019) – Saskatoon Police Service and Saskatoon RCMP laid charges against Vincent John Mullee, a former Saskatoon financial advisor, for a $2 million investment fraud. He allegedly sold non-existing bonds to 24 clients of his company ‘Vince...

BCSC warns investors against pyramid scheme type ‘split games’

Vancouver (October 25, 2019) – The British Columbia Securities Commission (BCSC) warns investors against ‘split games’ which operate on the principle of pyramid schemes. The virtual ‘shares’ are primarily sold in the Lower Mainland’s Chinese community by FullCarry and...

Maryland man sentenced for using Ponzi scheme worth over US$396 million

Baltimore (October 16, 2019) – Kevin B. Merrill from Maryland was sentenced to 22 years in federal prison for conspiracy and fraud conducting a Ponzi scheme worth over US$396 million. Together with his co-conspirators, he defrauded investors using his companies...

Securities Commission issues warning against Aureum Energy investments

Winnipeg (October 10, 2019) – On October 8th, the Manitoba Securities Commission (MSC) warned against investing in the U.S. based company Aureum Energy. The so-called ‘Energy Project’ is actively promoting investments in Manitoba. The MSC issued the investor alert due...

Man wanted for half-million-dollar investment fraud

Region of Peel (September 27, 2019) – The Peel Regional Police announced on September 26 that Vatsal Khamar is wanted for a half-million-dollar fraud. The man from Toronto allegedly defrauded two victims out of a total of $500,000 in 2016 by conducting an investment...

Financial commission warns against fraudulent offers for high-risk crypto asset investments

New Brunswick (September 25, 2019) – New Brunswick’s Financial commission joins the warnings issued by international regulators and the Manitoba Securities Commission against 4XFX and Coinbrokerz which claimed to offer investment opportunities in bitcoin along with...

Multi-million Ponzi scammer convicted to nine years in jail

Toronto (September 18, 2019) – The Ponzi scammer Steven Joshua Nowack who posed as a highly successful foreign exchange trader has been convicted to nine years in jail on Tuesday. A jury found him guilty on 12 counts of fraud over $5,000. He defrauded his victims out...

Investment Fraud