Edmonton police arrested two in defrauding investors of $7.8 million
The EPS Financial Crimes Section has charged a man and a woman in a $7.8 million alleged Ponzi scheme targeting investors in Alberta and British Columbia.
In early 2020, police became aware of a Ponzi scheme reportedly being run by a man and a woman operating primarily out of Kelowna, BC and Edmonton, AB, although some victims were located as far away as Nevada, USA and Australia.
The two suspects were allegedly offering securities in the form of promissory notes to guarantee investors a set return on their investment. The scheme was run under the company name Group Venture Inc., and is believ...