JSOT criminally charges Nicholas John Felgate with fraud and money laundering
CALGARY, Feb. 14, 2020 /CNW/ - The Alberta Securities Commission (ASC) and the Alberta RCMP announced today that Nicholas (Nick) John Felgate of Rockyview, Alberta has been charged with nine offences under the Criminal Code, following an investigation by the Joint Serious Offences Team (JSOT).
Felgate has been criminally charged with eight counts of fraud over $5,000 contrary to section 380(1)(a) and one count of laundering proceeds of crime contrary to section 462.31(2). It is alleged that Felgate fraudulently raised over $2,000,000 from 11 investors between January 2015 and June 2018 in Calgary, Airdrie, Camrose, Killam, Medicine Hat and their surrounding areas. The investments were made pursuant to documents variously referred to by Felgate as Lendor/Loan Agreements, Asset Agreements, Loan Agreements or Promissory Notes.
Felgate's first appearance in court is scheduled for Friday, February 14, 2020 at 9:00 a.m. at the Provincial Court of Alberta, at 601 5 St SW Calgary.
The ASC and RCMP ask that any investors who were or are solicited by Felgate to please contact ASC Public Inquiries at 1-877-355-4488 (Toll-Free) or [email protected].
The ASC issued an Interim Cease Trade Order against Felgate on March 2, 2018, requiring him to cease trading in all securities and prohibiting him from using any exemptions contained in Alberta securities laws. That Order remains in effect.
JSOT gratefully acknowledges the assistance of the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the Calgary Police Service, Criminal Intelligence Service Alberta (CISA), Service Alberta, the Alberta Crown Prosecution Service and the Seized Property Management Directorate (SPMD) of Public Services and Procurement Canada (PSPC) in this investigation.
JSOT is an enforcement partnership between the ASC, the RCMP Federal Policing's Financial Integrity Program and Alberta Crown Prosecution Service. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act and certain securities-related criminal offences under the Criminal Code. In particular, JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans. The primary objective is to protect investors and further enhance confidence in the Alberta capital market through collaborative investigations and prosecutions of serious violations of the law using the provisions of the Securities Act (Alberta) or the Criminal Code.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
The RCMP Federal Policing's Financial Integrity Program contributes to the security of the Canadian economy and seeks to protect Canadians and their governments from financial crimes perpetrated by organized crime and others. The Financial Integrity Program is delivered in partnership with international and domestic government agencies, domestic stakeholders and the community at large.
SOURCE Alberta Securities Commission
For ASC Media Inquiries: Hilary McMeekin, Manager, Communications, 403.592.8186; Alison Trollope, Director, Communications & Investor Education, 403.297.2664; For RCMP Media Inquiries: Fraser Logan, 780.412.5261; For Investor Inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488
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