Alberta RCMP charge two people in complex multimillion-dollar fraud case
May 25, 2018 | 4:13 PM
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CALGARY — RCMP have arrested and charged two people in a multimillion-dollar fraud case involving hundreds of investors in Alberta.
Investigators say two people in Calgary that operated a company called Base Finance Ltd. raised $27 million from investors in 2014 and 2015.
The RCMP Federal Serious * Organized Crime Financial Integrity Unit alleges investors were told the money was for mortgage lending, but the cash was instead payed out to other investors.
Mounties say they began the complex probe after getting a tip from the Alberta Securities Commission and received help from federal forensic accounting experts.
