Investment Fraud
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...
Former financial planner defrauded his clients out of more than $600,000
Kitchener (September 17, 2019) – Former financial planner and broker, Ronald Schwartz who was contracted to sell Sun Life Financial products defrauded eleven of his clients out of more than $600,000 between 2011 and 2014. On Monday, the Kitchener man pleaded guilty...
Regina woman appeals conviction in multi-million dollar fraud
Regina (August 26, 2019) – Alena Pastuch from Regina appeals her conviction and sentence in a $5.5 million dollar fraud case. The 54-year-old filed the appeal on Tuesday claiming miscarriage of justice and error in fact and law. The Regina woman was convicted of...
Investment fraudster could have targeted Iranian community, police assume
Toronto (August 21, 2019) – A man from Richmond Hill is facing two counts of fraud charges. He allegedly defrauded victims of almost $95,000 in total, CTV News reports. Police assume, he was targeting people in the Iranian community and they encourage victims to come...
Former Waterloo Region financial adviser and convicted fraudster back behind bars for at least another year
Kitchener (August 19, 2019) – Former Waterloo Region financial adviser, Daniel P. Reeve who is convicted of fraud is back behind bars for at least another year after the Parole Board of Canada revoked his day parole earlier this month. Reeve was arrested in May 2019,...
Regina woman sentenced to 7 years in prison in a multi-million dollar fraud case
Regina (August 16, 2019) – Regina businesswoman, Alena Pastuch was sentenced to 7 years in prison for defrauding investors of $5.5 million between 2007 and 2009 on Friday. The judge suggested to let her serve her sentence partially in a psychiatric center, CBC...
Man charged with $20 million mortgage investment fraud
Toronto (August 12, 2019) – Derek Scheinman was arrested in relation to a $20 million mortgage investment fraud, according to the York Regional Police. He is charged with defrauding the public, fraud over $5,000, possession of the proceeds of crime, laundering...
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...