LETHBRIDGE – The Lethbridge Regional Police Service believes it has stopped a million dollar fraud scheme in the city.
Bryan Wilfred Clemens, 48, of Oliver, BC has been arrested and charged after police allege he took $1.2 million from investors while working as a mortgage associate in Lethbridge.
Police responded to a complaint of a fraud brought forward by multiple investors in Nov. 2014. The Economic Crimes Unit investigated and says between Sep. 2009 and Mar. 2014 the man used his position to solicit money from nine acquaintances for what he called “bridge financing” for his real estate clients. Investors were promised high rates of return but the money was instead deposited into Clemens’ personal account.
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Clemens is charged with fraud over $5,000 and laundering the proceeds of crime. He attended the police station and was arrested without incident last week.
His next scheduled court appearance is Dec. 2.
Police say there could be more victims and anyone who believes they were victimized are asked to contact LRPS.
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