JSOT criminally charges Yuvraj Verma and Rohit Sethi

CALGARY, AB, Sept. 5, 2025 /CNW/ - The Alberta Securities Commission (ASC) and the RCMP Federal Policing Northwest Region's Integrated Market Enforcement Team (IMET) announce that Yuvraj Verma, 42, and Rohit Sethi, 50, of Edmonton, Alberta, have each been charged with seven offences under the Criminal Code following an investigation by the Joint Serious Offences Team (JSOT).

It is alleged that between 2018 and 2020, Verma and Sethi, using several corporations, including Cancom Development Ltd. and Roxdale Gardens Ltd., raised approximately $6.8 million from investors for an Edmonton-based real estate project. In some cases, the accused told investors that 45 per cent of funds raised from investors would be held for future dividends and the remainder used for the project. In fact, no funds were retained for dividends, and investor money was allegedly diverted to other businesses controlled by the accused. Upon investing, investors were given lottery tickets for an advertised prize of a residential lot in Leduc County, Alberta. A lottery winner was selected, but never received the prize. The accused are also alleged to have forged mortgage documents by altering the terms of mortgage agreements with investors to the financial benefit of the accused.

Verma and Sethi have each been charged with the following:

• fraud over $5,000 contrary to section 380(1)(a) of the Criminal Code for defrauding the public;
• making and circulating a false prospectus, a statement or an account contrary to section 400 of the Criminal Code;
• managing a ticket scheme contrary to section 206(1)(d) of the Criminal Code (two counts);
• uttering forged documents contrary to section 368(1)(a) of the Criminal Code; and
• laundering the proceeds of crime contrary to section 462.31(1)(a) of the Criminal Code (two counts).

The accused were released on conditions, including a ban on selling or trading securities on behalf of others and contacting certain investors. Their first appearance in court is scheduled for 9 a.m. on Wednesday, October 1, 2025 at the Court of Justice, located at 1A Sir Winston Churchill Square, in Edmonton.

JSOT gratefully acknowledges the assistance of the Edmonton Police Service and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). 

JSOT is an enforcement partnership between the ASC and IMET. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act (Alberta) and certain securities-related criminal offences under the Criminal Code. JSOT investigates repeat offenders, serious frauds, and breaches of ASC or court orders and bans. The 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.

The ASC is the regulatory agency responsible for administering Alberta's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

IMET is a specialized unit under the RCMP Federal Policing program that detects, investigates, and deters market fraud. IMET works closely with the ASC to protect investors and further enhance confidence in Canada's capital markets. 

SOURCE Alberta Securities Commission

For further information please contact: For Media Inquiries: Tanja McMorris, Senior Advisor, Communications, [email protected]; For Investor Inquiries: ASC Public Inquiries: Toll Free 1.877.355.4488