Edmonton police have charged a woman for running a massive Ponzi scheme, involving dozens of Edmonton-area investors, and nearly $2 million.
Police said Carmelita Del Rosario, 42, was facing two counts of fraud over $5,000.
It’s believed the scheme ran between February 2009, and May 2012 – and its alleged Del Rosario ran a fraudulent investment operation, that showed unusually high returns to entice 49 investors.
Police said no evidence shows the funds were actually invested - $1.8 million is believed to have been taken; only a small amount of that has been recovered.
Del Rosario will appear in court next on April 30.
