1,000 Alberta investors lost $150M in a 3.5-year Ponzi scheme operated by Craig Michael Thompson.
1,000 investors in Alberta lost $150M in a 3.5-year Ponzi-like scheme, the Alberta Securities Commission reports. Craig Michael Thompson and his companies, Black Box Management Corp. and Invader Management Ltd., allegedly used investor funds to pay other investors instead of for investment purposes. Thompson informed investors in 2023 of a "catastrophic loss", having run out of funds to sustain the scheme.
April 05, 2024
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