RCMP charge Calgary man for allegedly running $164M Ponzi scheme
The RCMP announced on Tuesday they had laid charges against Craig Michael Thompson, 49, for allegedly misappropriating investor funds from more than 1,000 victims via his company, Black Box Management.
A Calgary man has been accused of stealing from over 1,000 individuals in an alleged $164-million Ponzi scheme, according to reports from multiple outlets. The 49-year-old, representing himself as a one-man investment firm, allegedly received funds from investors under the guise of day trading activities. The accused is said to have transferred nearly all the money, approximately $163 million, to other external accounts, including his personal one.
The man has been charged with two counts of fraud and money laundering and is scheduled to appear in court.
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