FORT MCMURRAY — An Airdrie man is facing 12 charges following a lengthy Wood Buffalo RCMP investigation into an alleged investment fraud involving more than $160,000.
RCMP say the investigation began April 22, 2024, after police received a report alleging a suspect had approached potential investors between 2022 and 2024 seeking money for a sports training and clothing company.
Police allege the company was never registered and production never began.
The Wood Buffalo RCMP General Investigation Section, assisted by the local Financial Crimes Unit, investigated and determined more than $160,000 had allegedly been defrauded from investors.
RCMP say the suspect left Fort McMurray during the investigation and relocated to Airdrie.
With assistance from the Airdrie RCMP Crime Reduction Unit, police arrested 36-year-old Airdrie resident Saleem Farhat without incident on Aug. 24.
Farhat is charged with 10 counts of fraud over $5,000 and two counts of false pretences.
He was held for a judicial interim release hearing and has since been released from custody. Farhat is scheduled to appear in Alberta Court of Justice in Fort McMurray on Sept. 16.
Wood Buffalo RCMP Insp. Mike Robinson says having a dedicated Financial Crimes Unit gives local officers with specialized training the ability to investigate serious and complex financial crimes.
“These types of investigations can be lengthy, multifaceted and time consuming,” Robinson said. “It’s an asset to our community to have a dedicated unit with the ability to reach a conclusion such as in this investigation.”
RCMP are encouraging anyone who believes they have been a victim of fraud to report it to police and the Canadian Anti-Fraud Centre at 1-888-495-8501.
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