Monday, October 5th12.8°C

RCMP seeking two men in alleged $1.5M investment scam

TORONTO - The RCMP is looking for two men after it says more than 160 Canadians lost $1.5 million in an alleged investment scam.

Investigators say people in Saskatchewan, Manitoba, Ontario and Alberta were enticed to invest money through BHF Waste Management Limited Partnership in Barrie, Ont., between 2006 and 2008.

Police say the investors thought they were buying mining rights from a business in Montana, but were actually paying an inflated price to a shell company registered in St. Kitts and Nevis, and money was being funnelled to two offshore bank accounts in the Bahamas.

The RCMP says several people benefited from the laundered money or were paid wages from investor funds.

Police have arrest warrants out for Douglas Scott, 66, of both Toronto and Cranbook, B.C., and Claude Taillefer, 63, of Shanty Bay, Ont., near Barrie.

The RCMP has charged the pair with fraud over $5,000, fraud by false pretence, conspiracy to commit fraud, money laundering, possession of property obtained by crime and participating in a criminal organization.

The Canadian Press

Read more Business News


Recent Trending

Today's Market
S&P TSX13552.20+212.46
S&P CDNX529.91+4.35
S&P 5001987.05+35.69
CDN Dollar0.7639-0.0005
Natural Gas2.461+0.011

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.22+0.03
Metalex Ventures0.06+0.00
Russel Metals22.51+1.03
Copper Mountain Mining0.50+0.08
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.00
Diamcor Mining0.90+0.02


more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council