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Man charged in Ponzi scheme to appear in court

Last Updated Sep 14, 2020 at 7:20 am MST

The Calgary Courts Centre in Calgary, Alta., Monday, March 11, 2019. THE CANADIAN PRESS/Jeff McIntosh

CALGARY – A Calgary man charged in a multi-million dollar Ponzi scheme will appear in court Monday.

Vern Fauth, 73, was charged last month with fraud over $5,000.

RELATED: Calgary man charged with involvement in Ponzi scheme

The RCMP Integrated Market Enforcement Team (IMET) that specializes in investment fraud said the charge relates to activities between January 2012 and July 2015 involving Espoir Capital.

Investigators said investors had their funds used in a manner contrary to investor agreements.

Last year, the Alberta Securities Commission order Fauth to repay more than $3 million for his involvement in the scheme.