

Five men and women deal with costs in connection with a scam involving a phony website that law enforcement say was tricking buyers to believe that it was reputable.

RCMP’s built-in market place enforcement workforce (IMET) initial started an investigation in December 2021 immediately after it was notified by the Alberta Securities Commission (ASC), the province’s agency dependable for securities legislation.

Police say the ASC knowledgeable them about a web site, full of fraudulent details that had “attracted various buyers” with “higher interest financial commitment possibilities” advertised on the web.

What’s worse is the site was making use of the identify of a legitimate expenditure organization – one thing recognised as brand name hijacking.

“Investors ended up certain to deliver their investment decision money to various accounts at quite a few establishments throughout Canada ahead of ultimately getting moved to desired destination accounts,” RCMP explained in a statement.

“The resources ended up subsequently dispersed by transactions not similar to the meant investments.”

The investigation shortly led to the arrests of five persons in February and March of this 12 months:
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- 
Quang Sac Hoang, 52, of Calgary - 
Amarjit Panesar, 56, of Surrey, B.C. - 
Mehdi Tabatabaie, 57, of North York, Ont. - 
Amjed Barlas, 53, of Mississauga, Ont. and - 
Rocky Stevenson, 36, of Whitby, Ont.






All five suspects are billed with fraud around $5,000, theft in excess of $5,000, possession of the proceeds of criminal offense above $5,000 and laundering the proceeds of crime.

There is no info about how substantially cash the suspects are alleged to have taken from investors.

Law enforcement say this circumstance highlights how critical it is for buyers to be cautious about in which they place their money.

“This investigation uncovered a nefarious and elaborate interprovincial scheme that preyed on Canadians and their tough-earned cash,” explained Insp. Stephen Reid, operations officer for Calgary’s IMET, in a statement.

“With the help of several police and associate agencies, we were ready to carry these folks to justice and halt other people from currently being targeted.”

Barlas, Stevenson and Tabatabaie produced their to start with court appearances on March 6, although Hoang appeared in court docket on March 9.

Panesar is scheduled to appear in courtroom on April 13.

Any person who thinks they are the victim of fraud is advised to speak to their local law enforcement and the Canadian Anti-Fraud Centre by contacting 1-888-495-8501 or likely on line.