- Report: #1029387
Complaint Review: Gary Fraser - Niagara On The Lake Ontario
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Gary Fraser
Niagara Parkway, Niagara On The Lake Niagara On The Lake, Ontario, Canada
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Gary Fraser fraudster nabbed fourth time Niagara On The Lake Ontario
Alleged fraudster nabbed fourth time on 'bank flip'
ST. CATHARINES (Mar 12, 2007)
A former tire recycler and pitchman for a sexual enhancement cream is facing fraud charges for allegedly bilking investors out of about $100,000 in a home renovation scheme.
It was the third time in just more than a year that Gary T. Fraser, 35, has been charged with fraud-related offences in connection with investment projects that promised high returns.
In the latest venture, Niagara police said he attracted potential investors through a company that promised to buy, renovate and flip upscale properties in the quaint historic village of Niagara-on-the-Lake.
Niagara Detective Sergeant Tom Manney said potential investors were taken on real estate tours of various properties that were listed for at least $1 million. During the tour, he suggested improvements that could greatly increase their value in a property flip. Manney said the sellers had no idea what was going on.
But when this project fizzled, Manney said, the investors were persuaded to invest in what he described as a "bank flip" in the United States. They were told a high-profile U.S. bank needed a quick loan of $800,000 for which it would pay back a whopping $1.2 million a week.
Manney said a raft of official- looking documents were used to make the gambit appear legitimate. But the U.S. banking authorities confirmed the "bank flip" was a scam, he added.
As a result of the latest scheme, Fraser, of Niagara-on-the-Lake, is facing four additional charges of fraud over $5,000 and two counts of breach of a recognizance.
In April 2006, he was charged with 20 fraud-related offences and money laundering for allegedly bilking a recently widowed man out of about $500,000. Police said the man was offered high returns on his investment.
In January 2006, Fraser was charged with three counts of fraud over $5,000 for allegedly bilking three people he'd met at a Port Colborne church out of a total of $150,000. Fraud investigators allege he enticed them with a scheme similar to the bank-flip gambit.
He also faces an outstanding fraud charge from 2004 when he allegedly scammed a Niagara Falls, Ont., man out of $50,000.
Police alleged the victim was promised a 500-per-cent return for investing in a U.S. company that was preparing to market the feminine sexual enhancement cream Vitara in Canada.
Now in custody, Fraser will appear for a bail hearing in St. Catharines tomorrow. He is facing about 30 charges, including allegations he breached his previous bail release conditions.
James
st catharines, Ontario
Canada
ST. CATHARINES (Mar 12, 2007)
A former tire recycler and pitchman for a sexual enhancement cream is facing fraud charges for allegedly bilking investors out of about $100,000 in a home renovation scheme.
It was the third time in just more than a year that Gary T. Fraser, 35, has been charged with fraud-related offences in connection with investment projects that promised high returns.
In the latest venture, Niagara police said he attracted potential investors through a company that promised to buy, renovate and flip upscale properties in the quaint historic village of Niagara-on-the-Lake.
Niagara Detective Sergeant Tom Manney said potential investors were taken on real estate tours of various properties that were listed for at least $1 million. During the tour, he suggested improvements that could greatly increase their value in a property flip. Manney said the sellers had no idea what was going on.
But when this project fizzled, Manney said, the investors were persuaded to invest in what he described as a "bank flip" in the United States. They were told a high-profile U.S. bank needed a quick loan of $800,000 for which it would pay back a whopping $1.2 million a week.
Manney said a raft of official- looking documents were used to make the gambit appear legitimate. But the U.S. banking authorities confirmed the "bank flip" was a scam, he added.
As a result of the latest scheme, Fraser, of Niagara-on-the-Lake, is facing four additional charges of fraud over $5,000 and two counts of breach of a recognizance.
In April 2006, he was charged with 20 fraud-related offences and money laundering for allegedly bilking a recently widowed man out of about $500,000. Police said the man was offered high returns on his investment.
In January 2006, Fraser was charged with three counts of fraud over $5,000 for allegedly bilking three people he'd met at a Port Colborne church out of a total of $150,000. Fraud investigators allege he enticed them with a scheme similar to the bank-flip gambit.
He also faces an outstanding fraud charge from 2004 when he allegedly scammed a Niagara Falls, Ont., man out of $50,000.
Police alleged the victim was promised a 500-per-cent return for investing in a U.S. company that was preparing to market the feminine sexual enhancement cream Vitara in Canada.
Now in custody, Fraser will appear for a bail hearing in St. Catharines tomorrow. He is facing about 30 charges, including allegations he breached his previous bail release conditions.
James
st catharines, Ontario
Canada
