A Drayton Valley man accused of fraudulently raising about $200,000 from investors in Red Deer has been charged with fraud and theft.
On Monday the Joint Serious Offences Team (JSOT) alleged that Shaun Wayne Howell raised the money from six different investors between September 2013 and February 2015.
Howell was charged with three counts of fraud and three counts of theft over $5,000 and he will make his first court appearance on Oct. 26 in Red Deer provincial court.
Charges were laid after an investigation by the Joint Serious Offences Team (JSOT).
JSOT targets repeat offenders, serious frauds and breaches of the Alberta Securities Commission or court orders and bans. Its 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.
JSOT gratefully acknowledged the assistance of Red Deer and Airdrie RCMP detachments and the Financial Transactions and Reports Analysis Centre of Canada in its investigation of Howell.
Alberta Securities Commission is the regulatory agency responsible for administering the province’s securities laws, and is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors.