Calgary

Calgary fraudster under lifetime trading ban faces new charges, again

A Calgary man under a lifetime trading ban for fleecing investors is facing fraud charges for a fourth time, while still involved in court hearings on previous charges.

It's the 4th time Neil Andrew McDonald has faced charges in under a decade

Neil Andrew McDonald has been charged with fraud in violation of a lifetime trading ban. (David Bell/CBC)

A Calgary man under a lifetime trading ban for fleecing investors is facing fraud charges for a fourth time, while still involved in court hearings on previous charges.

Neil Andrew McDonald is accused of stealing someone's identity and obtaining approximately $25,000 of credit between Aug. 25, 2016 and March 24, 2017. He's also accused of opening a fraudulent bank account with the same identity. 

Police say he's been using the alias Neil Andrews.

The charges were laid following an investigation by the Joint Serious Offences Team, which is a collaboration between the Alberta Securities Commission (ASC), Alberta RCMP and Crown prosecution service.

McDonald was first found to have violated Alberta securities law by fraudulently raising $439,000 from investors in 2009.

He settled out of court for $20,000 with the ASC, which banned him from trading or advising in securities for 15 years — a ban McDonald was later found to have violated.

In 2015, McDonald was sentenced to two years in jail and ordered to pay $240,000 restitution to three people he defrauded in violation of that agreement. 

And in February 2017, McDonald was slapped with seven new charges. He was accused of fraudulently raising another $240,000 between 2012 and 2015 while he was before the courts on his previous fraud charges. 

The new charges, which occurred while McDonald was on release conditions bound by recognizance on the February 2017 charges, are:

  • One count of fraud. 
  • One count of identity fraud. 
  • One count of use of a falsified credit card. 
  • One count of failing to comply with recognizance. 

He's scheduled to appear in court for a bail hearing on July 23 in Calgary.

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