Investment Fraud
Two men arrested in Toronto for alleged Ponzi scheme that took in nearly $1 million
Toronto (July 19, 2019) – Toronto Police service arrested John James Illidge, 66, on July 12, and Vincent Philips, 74, on July 16 jointly for 18 charges containing fraud, theft, and launder proceeds of crime. In January 2018, the Ponzi scheme fraud investigation...
Norman Groot Discusses Fraud Recovery On the Wolf Of Bay Street
Mar.28, 2019 - Recently, Norman Groot of Investigation Counsel PC, visited the Wolf of Bay Street, Wolfgang Klein, to discuss fraud recovery litigation and share some of his previous fraud recovery stories. Listen to the full interview below.
Calgary duo fined millions in one of the ‘worst frauds perpetrated in Alberta’ Social Sharing
Feb. 26, 2019 (Courtesy of CBC.ca) - The Alberta Securities Commission has ordered a man and a woman to pay millions after orchestrating what it says "was among the worst frauds perpetrated in Alberta." Arnold Breitkreutz, his company, Base Finance Ltd., and...
Financial adviser ‘manipulated’ brain injured senior into lending him $200K, police allege
Nov. 13, 2018 ( Courtesy of CBC.ca) - A Winnipeg financial adviser is under police investigation for allegedly manipulating his cognitively impaired 78-year-old client into lending him $200,000 under "false pretence," according to documents filed in court....
BCSC alleges $47 million investment fraud by insurance group’s top officers
Nov. 7, 2018 - The British Columbia Securities Commission (BCSC) has issued a notice of hearing alleging that three leaders of a once fast-growing insurance group committed fraud by getting hundreds of people to purchase unsecured loan agreements. The BCSC alleges...
Regina woman, Alena Pastuch , accused of $5M fraud must represent herself at her trial
Sept. 18, 2018 ( Courtesy of CBC.ca ) - A Regina woman accused of defrauding investors in Saskatchewan, Alberta and British Columbia of millions will have to represent herself at trial. Alena Pastuch was charged with fraud, theft and laundering the proceeds of crime...
Trial delayed for Regina woman accused of $5M fraud
Sept. 11, 2018 (Courtesy of CBC.ca) - The trial for a Regina businesswoman accused of defrauding investors millions was supposed to begin Monday morning, but the plan was derailed when Alena Pastuch's lawyer advised the court he could no longer represent her due to a...
Fraud, theft charges laid against man who raised $200K from investors in Red Deer
Aug. 29, 2018 (Courtesy of CBC.ca) - An Alberta man alleged to have fraudulently raised $200,000 from six investors in Red Deer is facing criminal charges after an investigation by the Joint Serious Offences Team (JSOT). Shaun Wayne Howell of Drayton Valley has been...
Central Alberta man charged in ‘elaborate’ $2.6M fracking fraud
July 31, 2018 ( Courtesy of CBC.ca) - A central Alberta man is facing fraud charges after a five-year investigation and more than $2 million in losses to investors. RCMP say Dane Skinner, 53, misrepresented and advertised a revolutionary fracking product,...
Undaunted by creditors and fraud charges, Peter Pocklington launches pot company
July 20, 2018 ( Courtesy of CBC.ca) - Former Edmonton Oilers owner Peter Pocklington still owes the Alberta government more than $13 million from an unpaid 1988 loan for a failed meat-packing plant. In Arizona, Pocklington and an associate have so far reneged on...
Massachusetts hedge fund manager with ties to Toronto based asset management firm gets six years in prison for fraud
May 7,2018 (Courtesy of Reuters) - A Massachusetts hedge fund manager was sentenced on Thursday to six years in prison for defrauding investors in a scheme that prosecutors said cost his clients over $10.5 million and allowed him to fund a lavish lifestyle. Yasuna...
JSOT criminally charges David Del Bianco with fraud and money laundering
April 27,2018 (Courtesy of Alberta Securities Commission) - The Alberta Securities Commission (ASC) and the Alberta RCMP announced today that David Del Bianco of Calgary, Alberta has been charged with offences under the Criminal Code, following an investigation by the...
Osgoode investor protection clinic receives $80K in court-directed award
April 24, 2018 | Written By Alexia Kapralos - Osgoode Hall Law School’s Investor Protection Clinic has received an $80,000 cy-près award from a class action settlement that will help the clinic remain open throughout the summer. The injection of cash was a “very...
Sydney Lederman Sentenced to 90 Days Jail for Fraud
April 19, 2018 - The Ontario Securities Commission (OSC) announced today Mr. Sydney Lederman of Toronto, Ontario, was sentenced to 90 days in jail and three years of probation by Justice M. Wong at the College Park-Ontario Court of Justice on April 13, 2018. Following...
St. Albert businessman sentenced to 7 years for massive Ponzi scheme
April 19, 2018 (Courtesy of cbc.ca) - A St. Albert businessman convicted of fraud in a multi-million dollar Ponzi scheme has been sentenced to seven years in prison and ordered to pay $5.8 million in restitution. Wade Closson pleaded guilty earlier this year to...
Former funeral home director accused of defrauding victims of nearly $400K: OPP
April 9, 2018 (courtesy of The Canadian Press) - A former funeral home director is facing a number of charges after allegedly defrauding the families of people who had pre-paid for their arrangements. Provincial Police Sgt. Peter Leon says the investigation centred on...
Pembroke lawyer receives two years for fraud
March 23, 2018 (Courtesy of thee Dailyobserver.ca) - A Pembroke lawyer will spend the next two years in a federal penitentiary after pleading guilty to defrauding his clients of $378,845 over a 15-month period. During a sentencing hearing at the Pembroke courthouse...
$2.6 billion award in Sino-Forest fraud case
Judgment is the first to definitively state that Sino-Forest was a fraud headed by Allen Chan March 15,2018 (courtesy of Financialpost.com) - A Canadian court has awarded plaintiffs US$2.63 billion in a civil case against Sino Forest Corp co-founder and CEO Allen...
Fraud charges against Ottawa couple leave investors worried
March 14, 2018 (Courtesy of OttawaCitizen.com) - After years of battling side by side on the ice, he had their trust. So when Marc Brunet offered to bring friends in on a big investment opportunity, they lined up with cash in hand, they say.But now, years later, with...
Knowledge House insiders guilty of fraud in collapse of e-learning company
Marc 9,2018 (courtesy of CBC.ca)Two key players at Knowledge House have been found guilty of fraud in the collapse of the Halifax e-learning company. Nova Scotia Supreme Court Justice Kevin Coady rendered his decision Friday morning after a marathon trial that spanned...
Former AMA executive gets prison time for $8-million fraud
A former Alberta Motor Association vice-president was sentenced to five years in prison Monday after admitting to an $8-million fraud against the organization. James Alan Gladden, 38, pleaded guilty to one count of fraud over $5,000 in January, admitting to...