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A Calgary man has been discovered responsible of bilking traders of greater than $2.4 million, most of it in a bogus scheme to realize entry to billions of {dollars} in financing.
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Following an investigation by the Joint Critical Offenses Group (JSOT) and a subsequent listening to, King’s Bench Justice W. Patrick Sullivan discovered William Jordan McBean responsible of 12 counts of fraud over $5,000.
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The court docket discovered that McBean defrauded 11 traders of a complete of $2 million in charges, telling them that these charges would achieve entry to billions of {dollars} in financing that by no means materialized.
“One other sufferer, a lady in her 70s on the time, was defrauded of $425,035 USD in relation to funds supplied to McBean for funding functions,” the Alberta Securities Fee (ASC) mentioned in a press launch Monday.
McBean was initially charged in Might 2021 with fraudulently acquiring $3.8 million in financing charges from traders.
A sentencing listening to within the Court docket of King’s Bench is scheduled for February 21.
The JSOT is a partnership of the ASC, Alberta Crown Solicitor Service and the RCMP’s Built-in Market Enforcement Group (IMET).
BKaufmann@postmedia.com
Twitter: @BillKaufmannjrn
