Two Calgarians arrested in Ontario on 5-year-old fraud warrants
Pair wanted since 2021 for allegedly misappropriating $5 million from day trading company.
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Two Calgarians wanted on Canada-wide fraud warrants since November 2021 were arrested in Algonquin, Ontario, on May 26 and returned to Alberta.
A routine police call in the Haliburton Highlands led Ontario provincial police to identify the suspects, aged 44 and 70, as having active warrants for fraud allegedly committed in 2019 and 2020.
The northwest RCMP Integrated Market Enforcement Team (IMET) in Calgary worked with Ontario Provincial Police to arrest the pair. IMET's investigation found they allegedly misappropriated nearly $5 million in investors' funds between January 2019 and December 2020 through an Alberta-based day trading company.
The pair face charges of laundering proceeds of crime over $5,000, fraud over $5,000, and theft. The 70-year-old is scheduled to appear at Alberta Court of Justice in Calgary on June 22, while the 44-year-old appears June 24. Both remain in custody.