A Walkerton man has been arrested in an alleged investment scam that bilked investors of more than two million dollars.
The OPP Anti Rackets worked with South Bruce OPP on the investigation that started in 2003 after a complaint was filed with the Ministry of Consumer and Commercial Relations.
The complaint alleged irregularities with mortgage related documents at various Land Registry offices.
55 year old Daniel Neil MacDonald was arrested Tuesday.
He and his company “Daniel MacDonald Investments Limited” face of a total of 72 charges each.
They include 15 counts of fraud over 5 thousand dollars, one count of theft over 5 thousand dollars and 56 counts of uttering forged documents.
Inspector Peter Shadgett says their investigation revealed 15 people and 3 corporations invested about 2.5 million dollars.
Police allege from January 1991 to December 2004 — MacDonald sold investments as registered first mortgages.
He also supplied documents to investors and told them they were sent to Land Registry offices in Bruce, Grey, Huron and Simcoe Counties.
But Police say they were never filed.
MacDonald was released on bail during a court appearance in Walkerton Wednesday
Inspector Shadgett would not comment further on the case as the investigation continues.
