Image from Alberta RCMP

By Connor Gunn

Canada-wide warrant issued for husband and wife Alberta investment scam

Nov 26, 2021 | 11:54 AM

CALGARY, AB – The Alberta RCMP Integrated Market Enforcement Team (IMET) has obtained a Canada-wide warrant for a husband and wife who are believed to have operated a fraudulent investment company identified as “Family First Dynasty Inc.”

RCMP says the two were operating a day trading school near Calgary in the town of Millarville. As part of the trading school, Fernando Honorate de Silva Fagundes would allegedly get some to invest in trading under his supervision and believed he would trade their finances in the stock market to make them a profit.

Fagundes and his wife Emilia Alas-As Elansin are said to have defrauded people out of $1.3 million.

Fagundes, 65, and Elansin, 40, both of no fixed address, have been charged with the following:

• Fraud over $5,000 contrary to Section 380(1)(a) of the Criminal Code;
• Theft over $5,000 contrary to Section 334 of the Criminal Code; and
• Laundering the Proceeds of Crime contrary to Section 462.31 of the Criminal Code.

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He allegedly operated his criminal activity under the alias Jovan Cavallon and Elansin under Janelle Cavallon.

Images of Fagundes and Elansin can be viewed below.

Fernando Honorate de Silva Fagundes

Emilia Alas-As Elansin

RCMP says Fagundes is said to have 11 other aliases as he portrayed himself as a day-trading expert and used an investment course operated under another company of his, Day Trading Coach Inc.

“Fagundes is believed to have committed similar frauds in Portugal, the United States, Saskatchewan, and Ontario. Fagundes and Elansin have fled the Millarville area and their current whereabouts are unknown,” the RCMP release reads.

RCMP is asking anyone who knows the whereabouts of either Fagundes or Elansin or who suspect themselves to be a victim of this particular scam, to contact IMET at 403-699-2434 or CalgaryIMET-EIPMFCalgary@rcmp-grc.gc.ca.

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