April 22, 2014 7:21 pm

Bogus investment trial underway in Kelowna

File photo: Global Okanagan

KELOWNA — A BC Supreme Court trial got underway Tuesday at the Kelowna law courts for two men charged in an alleged bogus investment scheme.

According to the Crown, five people were duped out of $247,000 after investing in United Business Development Inc.

The prosecutor told the jury the money was spent on credit card purchases and other personal expenses.

Ralph Bartholomew Edward Kelly and Raymond Patrick Shaw are each charged with two counts of fraud and theft over $5,000.

The alleged offenses occurred between December 2009 and January 2011.

The Crown will call about 20 witnesses during the two week trial, including a forensic accountant, who will go through a “voluminous” amount of documents involving about ten bank accounts.

 

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