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Fraud, theft charges laid against man who raised $200G from investors in Red Deer

An Alberta man alleged to have fraudulently raised $200,000 from six investors in Red Deer is facing criminal charges after an investigation by the Joint Serious Offences Team (JSOT).

Shaun Wayne Howell of Drayton Valley investigated by Joint Serious Offences Team

Shaun Wayne Howell of Drayton Valley faces three counts of fraud and three counts of theft over $5,000. (Peter Scobie/CBC)

An Alberta man alleged to have fraudulently raised $200,000 from six investors in Red Deer is facing criminal charges after an investigation by the Joint Serious Offences Team (JSOT).

Shaun Wayne Howell of Drayton Valley has been charged with three counts of fraud and three counts of theft over $5,000, the Alberta Securities Commission said in a news release Monday.

"It is alleged that Howell fraudulently raised approximately $200,000 from six different investors between September 2013 and February 2015 in Red Deer," the news release said.

Howell's first court appearance is scheduled for Oct. 26 in Red Deer.

The investigation was conducted by JSOT, an enforcement partnership between the securities commission, the RCMP and the Alberta Crown Prosecution Service.

JSOT targets repeat offenders, serious frauds and breaches of ASC or court orders and bans.

In 2016, the Investment Industry Regulatory Organization of Canada reported that Howell had agreed to pay a $500,000 fine after admitting he solicited nearly $700,000 from clients for "attractive investment opportunities" but put the money directly into his own bank account.

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