Ravinderpaul Singh Mangat, also known as Rob Mangat, of Surrey, B.C., has been arrested following an investigation by the British Columbia Securities Commission.
“It is alleged that from July 2012 to October 2014, Mangat convinced a Vancouver resident to invest $500,000 in a “Privileged Investment Group” offering a high guaranteed return. Rather than invest the money as promised, it is alleged Mangat spent the bulk of the invested funds on personal expenses and paying off debts,” states the BCSC.
He has been charged with two counts of fraud over $5,000 under the Criminal Code. On Aug. 9, Mangat was released on $10,000 cash bail with a number of conditions. A trial date has yet to be set.
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