By Alex McCuaig

Med Hat Fraud Victim

Hat investors among those involved in alleged $2 million fraud

Feb 14, 2020 | 11:04 AM

MEDICINE HAT, AB – The Mounties and Alberta Securities Commission are seeking investors who may have been approached by a man now accused of bilking more than $2 million from residents of a number of communities including Medicine Hat.

Rockyview-based Nicholas (Nick) John Felgate is currently facing eight charges of fraud and one count of money laundering connected to his activities involving 11 investors between January 2015 and June 2018.

The investments were made through documents Felgate reffered to as, “lendor/loan agreements, asset agreements, loan agreements or promissory notes,” according to the ASC.

The ASC and RCMP are asking any investors who were or are being solicited by Felgate to contact ASC Public Inquiries at 1-877-355-4488 or inquiries@asc.ca.

Other communities from which the 11 investors are based out of include Calgary, Airdrie, Camrose and Killam.

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Felgate is also currently subject to an interim cease trade order issued by the ASC on March 2, 2018 which also prohibits him from using any exemption contained in Alberta securities laws.