City man facing #fraud #charges for fourth time


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A Calgary man with a history of fraud allegations is facing new criminal charges while still awaiting the outcome of his previous court proceedings.

Neil Andrew McDonald is accused of illegally obtaining about $25,000 of credit under a stolen identity between August 2016 and March 2017, RCMP and the Alberta Securities Commission (ASC) said Friday. McDonald, who has faced fraud charges three times before dating back to 2009, is also accused of opening a bank account with the same stolen identity.

McDonald was last charged with seven counts of fraud in February 2017 after allegedly raising $240,000 from investors while dealing with separate fraud allegations in court.

The most recent allegations occurred while the former mutual fund salesman was on a court-approved release on the 2017 charges, officials said.

McDonald was first charged by Alberta’s securities watchdog in 2009. He later admitted raising $439,000 from investors and using more than half of the funds to buy securities in his name and that of a business partner.

McDonald repaid the investors and settled out of court with the ASC, which ordered him to pay another $20,000 and banned him from trading or advising in securities for 15 years.

He was later accused of pocketing money from three investors who believed he was investing their funds in real estate.

McDonald pleaded guilty and was sentenced to two years in jail for the securities violations. He was also ordered to pay restitution of $240,000 and was permanently banned from trading in securities.

McDonald’s latest arrest followed an investigation by the Joint Serious Offences Team, a partnership between the ASC, the RCMP’s financial integrity program and Alberta Crown prosecutors.

The team targets repeat offenders, serious frauds and breaches of ASC orders and bans.

McDonald is scheduled to appear for a bail hearing on Monday.

Source: https://calgarysun.com/news/local-news/city-man-facing-fraud-charges-for-fourth-time


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