VANCOUVER, Aug. 14, 2017 /CNW/ - Ravinderpaul Singh Mangat (a.k.a. Rob Mangat), 44, of Surrey, B.C., was arrested on August 5, 2017, following an investigation by the British Columbia Securities Commission's Criminal Investigations Branch. The warrant for Mangat's arrest was issued in connection with fraud charges against Mangat under the Criminal Code, which were sworn June 1, 2017. Mangat was arrested in Vancouver on the outstanding warrant by Vancouver Police.
It is alleged that from July 2012 to October 2014, Mangat convinced a Vancouver resident to invest $500,000 in a "Privileged Investment Group" offering a high guaranteed return. Rather than invest the money as promised, it is alleged Mangat spent the bulk of the invested funds on personal expenses and paying off debts.
Mangat is currently charged with two counts of fraud over $5,000 under the Criminal Code. On August 9, 2017, Mangat was released on $10,000 cash bail with a number of conditions. A trial date has yet to be set.
About the British Columbia Securities Commission (www.bcsc.bc.ca)
The British Columbia Securities Commission is the independent provincial government agency responsible for regulating capital markets in British Columbia through the administration of the Securities Act. Our mission is to protect and promote the public interest by fostering:
- A securities market that is fair and warrants public confidence
- A dynamic and competitive securities industry that provides investment opportunities and access to capital
Learn how to protect yourself and become a more informed investor at http://www.investright.org
SOURCE British Columbia Securities Commission
For further information: Media Contact: Alison Walker, 604-899-6713; Public inquiries: 604-899-6854 or 1-800-373-6393 (toll free), email@example.com