Tuesday, November 16, 2021
- Advertisement -
- Advertisement -

Two people charged after Lethbridge man defrauded out of $3.1 million

- Advertisement -

Lethbridge Police charging two men in connection to a multi-million dollar investment fraud.

Two years ago in June 2018, LPS began looking to a major fraud spanning across B.C., Alberta, and Saskatchewan.

It was determined a Lethbridge man had been bilked out of $3.1 millionĀ  by a Calgary-based investment company, RAEU Global.

Police say the victim was hoping to secure $25 million to build a major project in Ontario and after brokering with a firm in Okotoks known as Taurus Capital, they agreed to fund the project.

- Advertisement -   Article continues below ad

The catch, firm required a $3.1 million “down payment”. LPS say the victim raised the down payment by seeking out several of his own investors and then met with RAEU representatives on multiple occasions to complete the transaction.

Lethbridge Police say further investigation found the loan was never fulfilled and the money provided for that down payment had been transferred to bank accounts, several of those in the Czech Republic.

46 year old Josef Korec of Calgary and 36 year old Dustin Ritter of Okotoks are facing a number of charges relating to fraud and property obtained by crime.

Korec, who’s also accused of money laundering, left the country and has been living in the Czech Republic. A warrant has been issued for his arrest. Ritter, meanwhile was released from custody and is scheduled to appear in Lethbridge Provincial Court on September 3rd.

- Advertisement -
Patrick Siedlecki

Pat has been a mainstay in the CJOC News department from the time the station launched in 2007. He’s been in the position of News Director since then and has been anchoring daily news casts as well as reporting and working behind the scenes.

Community is important to him and keeping CJOC listeners and readers informed about what’s happening across southern Alberta and beyond.

Pat has been in radio broadcasting for the past 24 years, starting in Port Alberni on Vancouver Island in 1997 and then moving up island to Nanaimo for another few years before heading to Lethbridge in 2007.

Pat grew up in the small Saskatchewan farming town of Foam Lake. After high school, he went to Western Academy Broadcasting College (WABC) in Saskatoon prior to moving to the island.

Pat also spent several years broadcasting hockey in the BCHL as well as seven years as the radio voice of the Lethbridge Hurricanes in the WHL.

Pat has been working at Cornerstone Funeral Home in Lethbridge as a Certified Life Celebrant and Funeral Assistant since 2016.

News and sports have always been Pat’s passion from the time he was a teenager and he’s always been grateful to have had the opportunity to make that part of what’s been a fun and long radio career!

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

Lethbridge News

LPS traffic blitz results in three impaired driving charges; dozens of tickets

LETHBRIDGE, AB - A one-night traffic enforcement blitz by Lethbridge Police ended in three people being charged with impaired driving. There was also one immediate...

Three candidates vying for vacant Division 5 seat in Lethbridge County by-election

LETHBRIDGE, AB - It appears there will be a by-election in Lethbridge County after all. As of a week ago, there were no candidates running...

Heavy rainfall in B.C. causes major flooding, triggers landslides, evacuation orders

LETHBRIDGE, AB - Several communities across British Columbia are experiencing more record weather, but this time it's rainfall. Only three months removed from a record...

Alberta reaches $10-a-day child care funding agreement with federal government

EDMONTON, AB - Prime Minister Justin Trudeau says affordable child care is now within reach for all Alberta families with a new funding agreement...

Christmas Hope 2021 aiming to help 1600 Lethbridge households

LETHBRIDGE, AB - Half a dozen agencies across Lethbridge are joining forces to make sure the city's less fortunate have everything they need this...
- Advertisement -