"Frauds of this nature have a destabilizing effect on the economy and shake investor confidence in the capital markets. This particular matter had a devastating effect on the micro economy in the small town of Harrow. Thirty people lost their jobs and investors lost a substantial amount of money", said Superintendent Kevin Harrison, the Officer in Charge of Toronto IMET. He added, "We hope that the laying of criminal charges in this case sends a clear message to perpetrators that the IMET's will aggressively investigate complaints of this nature and, with the assistance of the Attorney General for Ontario, vigorously prosecute the offenders. We also hope that the restraint of the properties, a first for the IMET Program, will send a message to fraudsters that we will also pursue their ill gotten gains."
Integrated Market Enforcement Teams are also located in Vancouver, Montreal and Calgary as part of the Government of Canada's strategy to combat serious capital market fraud in Canada.
For further information: Sgt. Marc LaPorte, RCMP "O" Division Media Relations, Office: (519) 640-7302, Cell: (416) 992-4409
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