RCMP have laid charges against a Red Deer man, after wrapping up an investigation into a fraud scheme that is believed to have cost victims millions of dollars.
Police said the investigation started in April, 2016, after RCMP received tips on possible fraud involving the purchase, sale and rental of mobile light towers by Silvertip Energy Inc.
It was alleged the owner of the company had sold or rented light towers with the same serial number to a number of investors, and had also sold a rented units that were never made.
Through the scheme, RCMP said five individual investors lost about $4 million, while four more corporations based in Canada and the United States lost about $6.2 million.
Red Deer RCMP worked with the Secret Service and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) on this investigation.
“I believe this may be the largest fraud file we’ve seen in Central Alberta,” Const. William Lewadniuk said in a statement. “The Red Deer RCMP’s cross-border collaboration with the US Secret Service and our ongoing partnership with FINTRAC were vital to its successful conclusion.”
Police executed a search warrant at a home on C&E Trail north of Red Deer on December 19.
RCMP said Joshua James Tenhove, 45, is facing a total of five charges: three counts of fraud over $5,000, and single counts of laundering the proceeds of crime and possession of property obtained by crime over $5,000.
Tenhove is scheduled to appear in a Red Deer courtroom on January 15. RCMP are still investigating.
