Rocky View County man accused of defrauding investors out of more than $2M
CALGARY -- An investigation prompted by the RCMP and Alberta Securities Commission (ASC) into suspected fraud and money laundering has resulted in charges against a Rocky View County resident.
According to the ASC, Nicholas (Nick) John Felgate allegedly raised more than $2 million combined from 11 investors through fraudulent methods between January 2015 and the summer of 2018.
Felgate allegedly offered investors documents that appeared to be lendor/loan agreements, asset agreements, loan agreements or promissory notes to gain their trust.
At the time of the alleged fraud, the victims resided at locations throughout Alberta including Calgary, Airdrie, Medicine Hat, Camrose and Killam.
As a result of the investigation, Felgate faces the following criminal charges:
- Fraud over $5,000 (eight counts)
- Laundering proceeds of crime
Felgate was scheduled to appear in Calgary provincial court Friday morning.
The ASC is asking anyone who was solicited by Felgate to contact the ASC Public Inquiries line at 1-877-335-4488.