$2.6 million fraud case in Red Deer court

Accused allegedly misrepresented a fracking product to bilk investors

$2.6 million fraud case in Red Deer court

A case involving an alleged $2.6-million oilpatch fraud was in Red Deer provincial court this week.

Dane Michael Skinner, of Sylvan Lake, is charged with two counts of uttering threats, laundering proceeds of crime and fraud in connection with the alleged scam.

Police allege Skinner was claiming to sell a product that made fracking operations at oilwells cheaper and more environmentally friendly.

The product attracted numerous investors and led to lucrative financial gains.

Sylvan Lake man charged with fraud

Blackfalds RCMP said many people were enticed to invest in his company, and backers lost more than $2.6 million. Police say at least 16 people sunk money into the scheme, although the product had never been tested on actual wells.

Skinner’s case was in court Monday and was adjourned until Dec. 5.

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