The Star: Bankruptcy, suicide and a billion-dollar tech dream

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Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

A charming financier used a promising Canadian tech startup in a global investment scheme to ensnare savvy investors and Bay Street executives. But when the funding dried up, the dream came crashing down. The Toronto Star investigated the story of Alex Salavrakos.

Investment fraud 

The Peel Regional Police Fraud Bureau had charged Venkatacharya with fraud. The “very respectable person” had held himself to a number of Canadian firms as a conduit for investment monies from the United Arab Emirates. One of those companies was Complex Sportivo Inc., which had paid Venkatacharya a due diligence fee to secure, allegedly, a $235-million loan from the royal family of Dubai, a loan that never materialized. Venkatacharya was convicted in November of this year and awaits sentencing on Feb. 21.

Read the full story at The Toronto Star.

This article is summarized by Canadian Fraud News Inc.