HAMILTON, ON, June 11, 2014 /CNW/ - The RCMP Hamilton/Niagara Regional
Detachment Financial Crime Section charged Frederick WILLIAMS, age 76,
of Toronto with 21 counts of fraud after an investigation into an
alleged $2.5 million dollar investment scam.
The investigation began in 2012 when the RCMP received complaints of
possible fraud conducted by Mr. Williams in the provinces of Nova
Scotia, Prince Edward Island, New Brunswick and Ontario. Between 2000
and 2011, seventy one individuals across Canada, the United States and
the United Kingdom were found to have been victimized for approximately
$2.5 million dollars.
The investigation revealed that Mr. Williams solicited investments from
customers of his Ontario-based businesses Innercleanse 2000, Intensive
Cleanse, Herbal Care Direct and Kyra Therapy. Investors received
Royalty/Partnership Certificates and or Territory Agreements in
exchange for their monetary investments. These certificates and
agreements indicated investors would receive royalties based on the
sales of herbal products sold in Canada and the United States and at a
future date investors would have their initial investment returned. The
investors' initial investments were not returned and the majority of
them received little or no royalties. Mr. Williams solicited investors
without a license.
"Investment scams can lead to the loss of people's life savings, the
social damage can be severe," stated Inspector Steve Martin (Officer in
Charge of the Hamilton/Niagara Regional RCMP Detachment). "Bringing
those who commit these financial crimes to justice and protecting
Canada's economic integrity remains a priority for the RCMP."
The matter is scheduled for first appearance at Ontario Court of Justice
- John Sopinka Courthouse in Hamilton on June 12, 2014.
Anyone with further information in regards to this matter is asked to
contact the Ontario RCMP at 1-800-387-0020 or anonymously through Crime
Stoppers at 1-800-222-TIPS (8477).
Website: RCMP in Ontario
SOURCE: Royal Canadian Mounted Police
For further information:
Sgt. Richard Rollings,
RCMP "O" Division (Ontario)