Red Deer RCMP make arrest in suspected $10 million Ponzi scheme

A Red Deer man is facing fraud and money laundering charges in what Red Deer RCMP say may be the largest Ponzi scheme bust in central Alberta.
“I believe this may be the largest fraud file we’ve seen in Central Alberta,” Const. William Lewadniuk with the Red Deer RCMP financial crimes unit said in a Thursday release.
Red Deer RCMP began investigating in April 2016 after receiving reports of the suspected fraudulent rental of mobile light towers by Silvertip Energy Inc.
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