A 49 year old Oliver man was sentenced to three years for fraud in a Lethbridge courtroom on Tuesday, Nov. 14, 2017.
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November 16, 2017 - 1:21 PM
An Oliver man was sentenced this week in an Alberta courtroom for his part in a Ponzi scheme.
The Lethbridge Herald reported today, Nov. 16, Bryan Wilfred Clemens, 49, will spend three years in jail after entering a guilty plea to a single count of fraud over $5,000 and laundering the proceeds of crime.
Clemens was charged by Lethbridge police in 2015 after he collected $1.2 million from nine people, using his position as mortgage associate to solicit funds he told victims would be used for bridge financing for his real estate clients, according to the Herald.
He used some of the money to pay interest to his victims, but pocketed most of it.
Clemens is also expected to pay restitution to his victims.
It's unknown if there are any victims in the South Okanagan.
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News from © iNFOnews, 2017