TORONTO, June 19, 2014 /CNW/ - The RCMP's Greater Toronto Area (GTA)
Financial Crime unit has charged 11 Ontarians after over 150
international investors lost $4.4 million dollars in an alleged
elaborate investment scam.
The RCMP began the investigation after receiving information from the
Ontario Securities Commission (OSC) that many investors had been
defrauded in what appeared to be an investment scam. The RCMP
investigation revealed that between 2003 and 2006, over 150 investors
from the United States (US) and the United Kingdom (UK) were enticed to
invest by purchasing shares of an apparent biomedical company trading
on the Over the Counter Bulletin Board (OTCBB), led by Ivan Cavric. The
company was National Detection Clinics Limited (NDCL) which was
formerly known as Discovery Biosciences and became TGC Ventures Inc..
Investors were told that NDCL were going to open up clinics after they
had developed an early stage breast cancer infra-red detection system
that had received approval from the U.S. Food and Drug Administration
After a review of the financial transactions and through further
investigation, it is alleged that Cavric's organization set out to
deceive investors. The medical technology had not been approved and
none of the investors' money went towards opening, purchasing or
implementing any clinics or equipment.
The investigation has shown that numerous individuals belonged to,
participated in and assisted in crimes being committed and played a
part in the Cavric organization. All individuals benefitted from the
funds through laundering the proceeds or through being paid wages from
The following people have been charged with various offences under the Criminal Code in relation to this investment scam:
Ivan Cavric, age 54 of Welland, Ontario
Americo Derosa, age 58 of Niagara on the Lake, Ontario
Elwood Henkle, age 64, last known address Pefferlaw, Ontario
Sharon Finestone, age 65 of Jacksons Point, Ontario
Joanne Woodcroft, age 49 of Niagara Falls, Ontario
Terri Costiff, age 42 of Thorold, Ontario
Joane Laprise, age 53 of Welland, Ontario
Katherine Bassi, age 64 of Welland, Ontario
Sandra Landsman, age 71 last known address Pefferlaw, Ontario
Frederick Kimber, age 55 of Hagersville, Ontario
Tabitha Dempsey, age 31 of Niagara Falls, Ontario
The various offences are as follows:
Fraud Over $5000, s. 380(1)(a) CC
Laundering proceeds of crime, s. 462.31(1)(a) CC
Possession of proceeds of crime value exceeds $5000, s. 355(a) CC
Commission of offence for criminal organization (fraud), s. 467.12(1) CC
Commission of offence for criminal organization (money laundering), s.
Americo DEROSA, Elwood HENKLE, also known as, Alan LANDSMAN or Peter
JOHANSON and Sandra LANDSMAN have warrants for their arrest and they
are actively being sought by the RCMP.
"The RCMP is committed to bringing to justice those who seek to defraud
investors through elaborate schemes", stated Inspector Ann Koenig, RCMP
GTA Financial Crime Unit. "Ensuring Canada's Economic Integrity continues to be a priority for the RCMP".
The RCMP would like to thank the Ontario Securities Commission, the
United States Securities and Exchange Commission and Financial
Transactions and Reports Analysis Centre of Canada (FINTRAC) for their
valuable contribution to this investigation.
Anyone with information in regards to the location of the wanted accused
persons are asked to contact your local police, the Ontario RCMP at
1-800-387-0020 or anonymously through Crime Stoppers at 1-800-222-8477.
Website: RCMP in Ontario
SOURCE: Royal Canadian Mounted Police
For further information:
For media inquiries contact:
Ontario RCMP Media Relations
Insp. A. Koenig
RCMP GTA Financial Crime