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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.

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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.

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.

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