Alberta RCMP charge husband, wife in alleged multi-million dollar Ponzi scheme

Alberta RCMP have charged a British Columbia couple with fraud, theft and money laundering after discovering a Ponzi scheme they allege bilked investors out of millions of dollars between February 2014 and September 2016.

The investigation by the RCMP’s Integrated Market Enforcement Team (IMET) probed several companies operated by the husband and wife, including Vesta Capcorp Inc. and Vesta Equity Partners, both of which were operated out of Calgary.

“Unfortunately, the victims sustained substantial losses as a result of their investment within the Ponzi scheme they believed to be legitimate,” Insp. Charlene O’Neill said.

Read more:
73-year-old Calgary man charged in multi-million-dollar Ponzi scheme: Alberta RCMP

RCMP have charged 65-year-old Brian Kitts and 55-year-old Shannon Kitts of Summerland, B.C., with fraud over $5,000, theft over $5,000 and laundering the proceeds of crime.

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Both are scheduled to appear in court on April 12.

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