Millarville, Alta. couple accused of running $1.3M investment scam
Warrants have been issued for a husband and wife RCMP allege were operating a fraudulent investment company in southern Alberta that bilked clients out of more than $1 million.
The warrants were issued following what's being called a "complex" investigation by the Alberta RCMP integrated market enforcement team (IMET) into a company identified as Family First Dynasty Inc. in Millarville, Alta., about 56 kilometres south of Calgary.
Fernando Honorate de Silva Fagundes, 65, and Emilia Alas-As Elansin, 40, both of no fixed address, have been charged with:
- Fraud over $5,000;
- Theft over $5,000, and;
- Laundering the proceeds of crime.
Police allege Fagundes used the alias Jovan Cavallon and Elansin also went by Janelle Cavallon.
"Fagundes portrayed himself as a day-trading expert and used an investment course operated under another company of his, Day Trading Coach Inc., to approach victims with investment opportunities later determined to be fraudulent," police said.
"Investors in both Alberta and British Columbia reportedly provided money to Fagundes through Family First Dynasty Inc., believing he would trade their finances in the stock market to make them a profit. The investigation showed that Fagundes allegedly obtained approximately $1.3 million from victims and, rather than investing the funds, took the money for his own gains. Elansin is believed to be responsible for managing the administration of Fagundes’ two companies."
Fagundes is also accused of committing similar frauds in Saskatchewan and Ontario, as we as in Portugal, and the U.S.
The investigation started after a complaint was made to RCMP in Turner Valley, Alta., just south of Calgary, and was later expanded. Police say the pair fled the Millarville area and their whereabouts are unknown.
Despite that, charges were laid through collaboration between Alberta RCMP and a number of agencies, including Forensic Accounting Management Group, Financial Transactions and Reports Analysis Center of Canada, the Public Prosecution Service of Canada, Specialized Prosecutions of the Province of Alberta, Alberta Securities Commission (ASC), Ontario Securities Commission, Financial and Consumer Affairs Authority of Saskatchewan, and US Federal Bureau of Investigation.
IMET is a specialized unit under the RCMP federal policing program that "detects, investigates, and deters market fraud and works closely with the ASC to protect investors and further enhance confidence in Canada’s capital markets."
Anyone with information on the whereabouts of Fagundes or Elansin, or who suspects they are a victim of this scam is asked to contact IMET at 403-699-2434 or email: CalgaryIMET-EIPMFCalgary@rcmp-grc.gc.ca.
CTVNews.ca Top Stories
'I just can't believe that it took so long': Body found in wreckage 3 months after deadly fire
A man accused of arson in a January Old Strathcona apartment fire is expected to be charged with manslaughter after a body was discovered in the burned building late last month.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Quebec police hand out hundreds of tickets to Hells Angels and other bikers before 'first run' meeting
Quebec provincial police handed out hundreds of fines to Hells Angels members and other supporting motorcycle clubs who met for their 'first run' in a small town near Sherbrooke, Que.
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Auston Matthews skates ahead of Game 7, status unclear with season on the line
Centre Auston Matthews of the Toronto Maple Leafs hasn't been ruled out of tonight's Game 7 against the Boston Bruins.
Snakes almost on a plane: U.S. TSA discovers a bag with small snakes in passenger's pants
According to an X post by the Transportation Security Administration, officers at the Miami International Airport found the small bag of snakes hidden in a passenger's trousers on April 26 at a checkpoint.
A Chinese driver is praised for helping reduce casualties in a highway collapse that killed 48
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
Russia puts Ukrainian President Zelenskyy on its wanted list
Russia has put Ukrainian President Volodymyr Zelenskyy on its wanted list, Russian state media reported Saturday, citing the interior ministry’s database.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.