A former mortgage associate is facing charges in connection with a fraudulent investment scheme that cheated clients out of $1.2M over five years.
Lethbridge Regional Police received a complaint about a fraud that involved multiple investors in November 2014 and launched an investigation.
Police say a man, who was working as a mortgage associate in Lethbridge between September 2009 and March 2014, used his position to approach a number of people and solicit funds from them that he said would be used as “bridge financing” for his real estate clients.
The man took funds from nine people totaling about $1.2 M, promising them a high rate of return.
Police say the money was deposited into the man’s bank accounts for personal gain and that he turned himself into police last week
Bryan Wilfred Clemens, 48, of Oliver, BC is charged with fraud over $5,000 and laundering the proceeds of crime and is expected to appear in court on Wednesday.
Police say there may be additional victims and are asking anyone who believes they have been victimized as a result of this investment fraud to contact them at 403-328-4444.
