On February 14, 2020, the ASC and the Alberta RCMP criminally charged Nicholas (Nick) John Felgate (Felgate) of Rockyview, Alberta with nine offences of fraud and money laundering. Felgate allegedly fraudulently raised over two million dollars from 11 investors in Calgary, Airdrie, Camrose, Killam, Medicine Hat and their surrounding areas. The investments were referred to by Felgate as lendor/loan agreements, asset agreements, loan agreements, and promissory notes.
This is important information for the residents in your area, because some of them may have been impacted. The ASC and RCMP want any investors who were, or are, solicited by Felgate to please contact ASC Public Inquiries at 1-877-355-4488 (Toll-Free) or inquiries@asc.ca.
Our most recent investor study showed that 1 in 4 Albertans believe they have been approached with a fraudulent investment. To help Albertans recognize potential fraud, they can access free unbiased resources on the Checkfirst and ASC websites. On the ASC website, Albertans can check to see if individuals offering investment opportunities are registered to sell securities or investments, and check to see if they’ve ever had any disciplinary action taken against them in the past. On Checkfirst, they can learn the signs, symptoms and red flags of investment fraud, and share that information on local websites and social pages in order to help protect their communities.
If you are interested in speaking with someone about this file, please contact Fraser Logan at the RCMP. If you would like to speak with someone about the red flags of fraud, I would be happy to answer any questions you may have.
Submitted by James MacTavish
Senior Advisor, Investor & Industry Education
Alberta Securities Commission
