Strathcona County have laid fraud charges on a man following a seven-year long investigation.
The investigation launched in July 2018, when RCMP received a complaint about fraud when a male asked for an investment from a list of local professionals.
After the investigation, the RCMP were able to identify several victims, with “investments” totaling five million dollars. There was no return of product or funds to any of the victims. Instead, the suspect diverted funds for personal use.
Allan Magneson, an 86-year-old man living in Sherwood Park, was arrested and charged with five counts of fraud over $5,000 and laundering the proceeds of crime.
Magneson was released from custody and is scheduled for a court appearance in Sherwood Park on June 25.
