Alberta RCMP charge two people in complex multimillion-dollar fraud case

RCMP have arrested and charged two people in a multimillion-dollar fraud case involving hundreds of investors in Alberta.

Investigators say two people in Calgary that operated a company called Base Finance Ltd. raised $27 million from investors in 2014 and 2015.

The RCMP Federal Serious & Organized Crime Financial Integrity Unit alleges investors were told the money was for mortgage lending, but the cash was instead paid out to other investors.

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Mounties say they began the complex probe after getting a tip from the Alberta Securities Commission and received help from federal forensic accounting experts.

Arnold Breitkreutz, who is 70, and 67-year-old Susan Way, have been charged with fraud over $5,000 and theft over $5,000.

They are to appear in Calgary provincial court on Monday and have been ordered to surrender their passports and remain in Canada.