Post by privateinvestors on Oct 7, 2013 22:07:30 GMT 4
Ponzi scheme leads to six arrests
By Anne Sutherland - October 3, 2013 - www.montrealgazette.com
MONTREAL — Provincial police have cracked a Ponzi scheme estimated at more than $19 million. Six people have been arrested and a $400,000 home has been seized.
The case dates back to a complaint made in 2011, said SQ Sgt. Daniel Thibaudeau.
The Sûreté du Québec’s financial crimes team made the arrests Thursday morning in connection with a Ponzi scheme that covered the greater Montreal area and the Townships.
This kind of pyramid scheme uses money from new investors to pay returns to previous investors.
Thirty-five officers with the SQ were involved in the investigation.
In addition to the SQ financial crimes division, investigators with the Autorité des marchés financiers were involved.
The six arrested Thursday are: France-Josée Dancause, 49, of Longueuil; Alain Péloquin, 48, of Sherbrooke; Benoît Sénécal, 57, of Sherbrooke; Sophie Jolicoeur, 44, of Mont-St-Hilaire; Isabelle Cantin, 36, of Sherbrooke; and Chantal Goulet, 44, of Longueuil.
All are detained and will eventually appear before a judge to be charged with fraud, though Thibaudeau could not say when.
Police officers are still searching for a seventh suspect, Jean-Marc Lavallée, 65, from La Prairie.
Thibaudeau said it was too early to know if any of the invested money could be recovered.
The financial crimes division of the SQ invites anyone who has information about this type of fraud to call the information line at 1-800-659-4264.
By Anne Sutherland - October 3, 2013 - www.montrealgazette.com
MONTREAL — Provincial police have cracked a Ponzi scheme estimated at more than $19 million. Six people have been arrested and a $400,000 home has been seized.
The case dates back to a complaint made in 2011, said SQ Sgt. Daniel Thibaudeau.
The Sûreté du Québec’s financial crimes team made the arrests Thursday morning in connection with a Ponzi scheme that covered the greater Montreal area and the Townships.
This kind of pyramid scheme uses money from new investors to pay returns to previous investors.
Thirty-five officers with the SQ were involved in the investigation.
In addition to the SQ financial crimes division, investigators with the Autorité des marchés financiers were involved.
The six arrested Thursday are: France-Josée Dancause, 49, of Longueuil; Alain Péloquin, 48, of Sherbrooke; Benoît Sénécal, 57, of Sherbrooke; Sophie Jolicoeur, 44, of Mont-St-Hilaire; Isabelle Cantin, 36, of Sherbrooke; and Chantal Goulet, 44, of Longueuil.
All are detained and will eventually appear before a judge to be charged with fraud, though Thibaudeau could not say when.
Police officers are still searching for a seventh suspect, Jean-Marc Lavallée, 65, from La Prairie.
Thibaudeau said it was too early to know if any of the invested money could be recovered.
The financial crimes division of the SQ invites anyone who has information about this type of fraud to call the information line at 1-800-659-4264.