Illustration photo. (Source: Reuters)
Indonesian police said a Canadian wanted by Interpol for forging documents and defrauding hundreds of investors in Canada has been arrested on the island of Bali.
Speaking at a press conference on May 22, Bali police representative Ni Wayan Sriani confirmed that local authorities arrested Stephane Gagnon on May 20 at his villa in Canggu - a famous tourist destination on the resort island of Bali.
The arrest was launched after Indonesian authorities received a notice from Interpol about the 50-year-old suspect wanted for defrauding more than 300 investors. The suspect has been detained at the Bali police detention center for 20 days. The Indonesian Immigration Department is waiting for the Canadian government to send a request for his extradition.
Local police added that Gagnon came to Bali in 2020 and had a temporary residence permit as an investor.
In a 2021 announcement on its official website, the Ontario Securities Commission (OSC) said Gagnon was accused of defrauding investors across Canada by promising them instant access to their locked retirement savings accounts.
The OSC alleges that Gagnon illegally collected $20 million CAD ($14.8 million USD) from investors between 2015 and 2021, using a large portion of the proceeds for personal expenses. Many investors did not receive the money Gagnon promised.
In 2020, Bali authorities arrested an American citizen who impersonated an investment manager to defraud multiple victims online of a total of about $500,000.
Source: VNA/Vietnam+
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