Lawsuit alleges Harold Backer ran a pyramid scheme

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Former Olympic rower and investment dealer Harold Backer is facing a lawsuit from investors alleging he ran a pyramid scheme.

The British Columbia Supreme Court claims damages for breach of contract, negligence and fraud arising from an allegedly fraudulent, pyramid or “Ponzi” scheme operated by Backer, who recently reappeared after missing for nearly 18 months.

Backer, 54, has been charged with two counts of fraud over $5,000.

Read more at CBC News