A Kelowna, B.C., man who was facing more than 80 criminal charges relating to an alleged Ponzi scheme that spanned three countries has died.
A spokesperson for the BC Coroners Service said the organization is investigating Curtis Quigley’s death near Okanagan Falls on June 20.
The 57-year-old went into the Okanagan River in Okanagan Falls and despite the best efforts of those nearby who saw him in distress, he died at the scene. Unconfirmed reports from the time indicated he may have gone into the water to rescue a dog.
Quigley and his wife, Kathleen Treadgold, were awaiting trial in Edmonton for 80 counts of fraud over $5,000 and one count of laundering proceeds of crime. Those charges arose from an investigation that involved the Financial Transactions and Reports Analysis Centre of Canada, the Canada Revenue Agency and the Alberta Securities Commission.
They were accused of offering a guarantee to real estate investors that they would see a return on their investment, which was often presented as a real estate flip, according to the Edmonton Police Service. Police allege the suspects did this by offering securities in the form of promissory notes.
Police say investigators became aware of a Ponzi scheme targeting investors in Kelowna and Edmonton in early 2020.
The scheme was often run under Group Venture Inc. and operated from October 2008 to December 2020, police allege.
Police say the scheme was worth $7.8 million and investigators believe there may be more victims. Those who may have been a victim are encouraged to contact police.
— with files from Stephanie Swensrude
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