National

Police allege Calgary man ran $1.3M Ponzi scheme centred on purported wine purchases

Darpan News Desk The Canadian Press, 20 Aug, 2024 03:25 PM

Police in Calgary have accused a man of running a Ponzi scheme involving purported wine purchases.

They say seven complainants have come forward reporting a total of $1.3 million in losses.

They allege that between January 2020 and February 2021, the suspect asked for short-term loans to purchase wine that would later be resold to another buyer.

Police say those who invested started to believe they'd been had after they were not swiftly repaid with interest, as promised.

Investigators believe the wine was not purchased and resold for profit, but rather, new funds coming in were used to pay those who invested earlier.

Fifty-two-year-old Brian Robert Gunsten is charged with fraud over $5,000 and money laundering.

Prev Next

MORE National ARTICLES

Fire numbers fall in B.C. as blaze near Golden destroys homes, spurs evacuation

The Town of Golden confirmed Thursday that the fire burning south of the community had destroyed "several structures," but it did not provide specifics. It said in a social media post that the 1.33-square-kilometre blaze, known as the Dogtooth Forest Service Road fire, had spread north, but rain and a northern wind are expected to help the fire fight.

Fire numbers fall in B.C. as blaze near Golden destroys homes, spurs evacuation

B.C. lets wineries import grapes for 2024 vintages after 'devastating' winter losses

The B.C. government says wineries can import grapes and juice to make their 2024 vintages after "devastating" losses this winter. The province says allowing winemakers to import grapes from outside B.C. is a "temporary measure" to prop-up hundreds of wineries and thousands of jobs after freezing weather wiped out this year's harvest.

B.C. lets wineries import grapes for 2024 vintages after 'devastating' winter losses

90% of B.C. communities adopt province's plans for more small-scale housing

Almost all British Columbia communities have adopted the provincial government's plan to tackle the housing crisis by allowing more multi-unit homes on properties. The province says nearly 90 per cent of 188 local governments have followed the legislation that would allow for row homes, triplexes and townhouses on former single-home lots.

90% of B.C. communities adopt province's plans for more small-scale housing

TransLink warns of huge public transport cuts unless '$600m funding gap' is addressed

Metro Vancouver's transportation provider TransLink is warning of massive service cuts unless a $600-million funding gap is addressed. It says overall transit reductions of up to 50 per cent would be required starting in 2026, eliminating about 145 bus routes and "significantly reducing" SkyTrain, SeaBus and HandyDART services.

TransLink warns of huge public transport cuts unless '$600m funding gap' is addressed

Calgary officials send crews to Jasper fire, explain why evacuation centre shuttered

Calgary emergency officials say they’re sending crews to help the Jasper wildfire while explaining why they briefly shuttered their evacuation centre just as the fire roared into the townsite and started burning structures. Sue Henry, the head of Calgary’s emergency services, said 19 Calgary crews were headed north to the fire scene.

Calgary officials send crews to Jasper fire, explain why evacuation centre shuttered

Poverty more prevalent among those who died during B.C.'s heat dome: study

A study of British Columbia's deadly heat dome in 2021 says the risk factor most strongly associated with dying during those sweltering days was whether that person was receiving income assistance.