|
#1
●
05-03-2013, 05:47 PM
| ||||||||
 My Rank: STAFF SERGEANT Poster Rank:891 Join Date: Apr 2010 Posts: 840 Mentioned: 0 Post(s) Quoted: 101 Post(s)
| ||||||||
|
Scarborough Pastor Arrested for Allegedly Operating $8.6 Million Fraud Ring
I live 10 minutes from there lol http://www.thestar.com/news/gta/2013...raud_ring.html A Scarborough pastor and his wife face 38 fraud charges after they allegedly scammed friends, family and members of their congregation out of more than $8.6 million. “It’s very troubling,” financial crimes Det. Gail Regan told a news conference Friday. “The victims believe in God, and the word they (the pastors) say, so they trusted and believed in them.” Pastor Marlon Gary Hibbert, 49, and his wife Verna Michelle Hibbert, 48, were arrested Thursday. Police allege the Hibberts scammed more than 200 investors out of millions over a period of six years. The couple had run several churches, but most recently headed the Life Centre Word of Faith Ministries. Their congregation operated out of a rented space at Our Lady of Fatima School near St. Clair Ave. E. and Victoria Park Ave. According to police, victims handed over inheritances, retirement funds and life savings to Hibbert, who told them he was “successful trader in foreign currencies.” Victims say they never saw a return on investment and were out hundreds of thousands of dollars. One family says they lost their home and was forced to move into a small rental apartment. Hibbert allegedly told victims he would invest their money in a cluster of foreign companies to trade in securities and foreign exchange. He promised rates of return as high as 8.5 per cent. Hibbert has never been registered to trade in securities. Regan says the Hibberts amassed a large fortune, which they funneled to Panama. She said the couple lived luxuriously, driving fast cars and living in a large home. Investors alerted the Ontario Securities Commission. The OSC investigated and ordered Hibbert to pay $5.6 million in fraud penalties. The OSC investigated and ordered Hibbert to pay $5.6 million in fraud penalties. So far police have identified 38 victims, who they say lost a total of $2.1 million. The Hibberts, along with their church’s administrative assistant Lorraine Bahlmann, will appear in court Friday. Bahlmann also faces 38 counts of fraud. |
|
#2
●
05-03-2013, 07:56 PM
| ||||||||
 My Rank: FIRST SERGEANT Poster Rank:409 Female Join Date: Dec 2009 Posts: 2,881
Contributions: 6
Mentioned: 11 Post(s) Quoted: 692 Post(s)
| ||||||||
|
Re: Scarborough Pastor Arrested for Allegedly Operating $8.6 Million Fraud Ring
"One family says they lost their home and was forced to move into a small rental apartment." That was dumb. Why invest so much you risk losing your house? I don't get it. The scammers should be locked up though. |
