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...

Two men arrested in advance fee fraud scheme investigation

Toronto (May 25, 2020) – The Toronto police arrested two men on May 12 for allegedly stealing $600,000 posing as lawyers settling a class-action lawsuit in an advance fee scheme. Erik Ariel Fishman (40) and Joseph Simon Rassi (32) are accused of contacting people who...

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...

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,...

‘Incorrigible’ fraudsman sentenced to 12 years in prison for Ponzi scheme

Toronto (April 16, 2020) – In this week's court case we look at the sentencing of serial fraudster David Holden by Ontario Superior Court Justice Michael Dambrot on February 7 of this year. Justice Dambrot sentenced Holden to 12 years in prison and ordered him to pay...

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...

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...

Charges laid against alleged fraudster trading promissory notes

Calgary (February 18, 2020) – The Alberta Securities Commission (ASC) and the Alberta RCMP laid charges against Nicholas John Felgate for securities fraud and money laundering in connection with trading promissory notes. The criminal charges entail eight counts of...

ASC: New penalties for convicted fraudulent real estate developer

Calgary (February 3, 2020) – An Alberta Securities Commission (ASC) panel imposed new penalties on Marie Louise LaFramboise, a convicted fraudulent real estate developer for her role in the failed Cougar Rock project. Between 2006 and 2010, LaFramboise was responsible...

Investment Fraud