A 54-year-old Parksville man was arrested Monday, Oct. 16, in connection to the fraudulent use of more than half a million dollars from investors.
In a news release, the British Columbia Securities Commission said James Waring Minnie allegedly solicited more than $500,000 from two B.C. investors from 2014 to 2016, for use in various business ventures.
“Rather than use the money as promised, it is alleged [the man] spent the bulk on his personal expenses,” reads the news release.
The man has been charged with two counts of fraud over $5,000 and two counts of theft over $5,000. According to Wednesday’s release, Minnie was in custody awaiting a bail hearing.
Quesnel and Oceanside RCMP and Victoria Police were thanked in the news release for their assistance in the investigation and the suspect’s arrest.