RCMP have charged 5 folks in a cash laundering and theft scheme involving a faux web site pretending to be a authentic funding agency.
The web site lured “quite a few” traders with high-interest funding alternatives by engines like google and listed contact data for fraudulent representatives, police stated. Investigators stated the traders despatched funds to varied accounts at banks throughout the nation earlier than transferring them to “vacation spot accounts” after which to different transactions unrelated to the supposed investments.
The RCMP’s federal Built-in Market Enforcement Staff (IMET) was made conscious of the exercise from a December 2021 referral from the Alberta Securities Fee.
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RCMP say tips on shady funds ‘will not be investigated’ as a result of police restrictions
IMET was assisted by the Monetary Transactions and Studies Evaluation Heart of Canada (FINTRAC), the Canadian Anti-Fraud Heart and Durham Regional Police within the investigation.
In February and March 2023, IMET arrested and charged:
- Quang Sac Hoang, 52, a resident of Calgary
- Amarjit Panesar, 56, a resident of Surrey, BC
- Mehdi Tabatabaie (57), a resident of Toronto
- Amjed Barlas, 53, a resident of Mississauga, Ont.
- Rocky Stevenson, 36, a resident of Whitby, Ont.
They face expenses of fraud over $5,000, theft over $5,000, possession of proceeds of crime and cash laundering of proceeds of crime.
Barlas, Stevenson and Tabatabaie appeared in a Calgary court docket on March 6. Hoang made a Calgary court docket look on March 9. Panesar is scheduled to look in Calgary Provincial Courtroom on April 13.
“I can not overstate the significance of being cautious when searching for funding alternatives of any form,” Calgary IMET Insp. Stephen Reid stated in an announcement.
“This investigation revealed a nefarious and intensive interprovincial scheme that fleeced Canadians and their hard-earned cash.”
When you imagine you’re a sufferer of fraud, Reid advises you to report it to your native regulation enforcement and to the Canadian Anti-Fraud Heart on-line, or by calling 1-888-495-8501.
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