A Surrey man who B.C. Securities Commission investigators say used $500,000 of a client’s money to pay off debts has been arrested by Vancouver police.
Ravinderpaul (Rob) Singh Mangat, 44, was arrested Aug. 5 following an investigation by the securities commission’s criminal investigations branch. Police arrested him on a warrant issued for two counts of fraud over $5,000.
From July 2012 through October 2014, the commission alleges Mangat told a Vancouver resident he would invest their money in a “privileged investment group,” and claimed this would yield high returns; instead, he “spent the bulk of the invested funds on personal expenses and paying off debts.”
Read more at Vancouver Sun
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.