Investment Frauds Lead to Multiple Arrests

Over the past two days, the Criminal Investigation Team of the B.C. Securities Commission (BCSC) and the Saanich Police Financial Crimes Section have made a series of arrests.

The investigation started over a year ago when two witnesses arrived at the Saanich Police front counter to seek information. This led to the Saanich Police Financial Crimes starting an investigation. Given it was found to be an investment related fraud, a request for assistance was made to the B.C. Securities Commission.

The original allegations included obtaining money from investors for what was thought to be a legitimate investment. The money then appears to have been converted to personal use. The total value of the frauds is unknown but believed in the hundreds of thousands of dollars.

As a result of the investigation by the BCSC Criminal Investigation Team, warrants for three suspects were obtained.  The three suspects arrested by the Saanich Police and BCSC Investigators were Ralph Kelly, 46yrs, a Colwood resident; Garrett Campbell, 30yrs, a Colwood resident; Frank Joseph Pecorelli, 33yrs, a Saanich resident.

Multiple charges have been recommended including Fraud Over $5000.00 and various Securities Act violations.

The Saanich Police are seeking further victims or witnesses in relation to this investigation. If you have invested money, or know somebody who has, with any of the suspects and feel you may have been a victim of a fraud, you are encouraged to contact the Saanich Police Financial Crimes Section at 250-475-4321.

The Saanich Police would like to thank the BCSC Criminal Investigative Team for their assistance in bringing this investigation to a successful conclusion. Learn how to avoid investment fraud at the BCSC investor education website



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