Oliver man sentenced in Alberta court for fraud scheme | iNFOnews.ca
A Princeton man will spend the next six months behind bars following a reckless attempt to flee police in Penticton last Friday, Feb. 19, 2016. Credit: Shutterstock

Oliver man sentenced in Alberta court for fraud scheme

An Oliver man was sentenced this week in an Alberta courtroom for his part in a Ponzi scheme.

The Lethbridge Herald reported today, Nov. 16, Bryan Wilfred Clemens, 49, will spend three years in jail after entering a guilty plea to a single count of fraud over $5,000 and laundering the proceeds of crime.

Clemens was charged by Lethbridge police in 2015 after he collected $1.2 million from nine people, using his position as mortgage associate to solicit funds he told victims would be used for bridge financing for his real estate clients, according to the Herald.

He used some of the money to pay interest to his victims, but pocketed most of it.

Clemens is also expected to pay restitution to his victims.

It's unknown if there are any victims in the South Okanagan. 

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Steve Arstad

I have been looking for news in the South Okanagan - SImilkameen for 20 years, having turned a part time lifelong interest into a full time profession. After five years publishing a local newsletter, several years working as a correspondent / stringer for several local newspapers and seven years as editor of a Similkameen weekly newspaper, I joined iNFOnews.ca in 2014. My goal in the news industry has always been to deliver accurate and interesting articles about local people and places. My interest in the profession is life long - from my earliest memories of grade school, I have enjoyed writing.
As an airborne geophysical surveyor I travelled extensively around the globe, conducting helicopter borne mineral surveys.
I also spent several years at an Okanagan Falls based lumber mill, producing glued-wood laminated products.
As a member of the Kaleden community, I have been involved in the Kaleden Volunteer Fire Department for 22 years, and also serve as a trustee on the Kaleden Irrigation District board.
I am currently married to my wife Judy, of 26 years. We are empty-nesters who enjoy living in Kaleden with our Welsh Terrier, Angus, and cat, Tibbs.
Our two daughters, Meagan and Hayley, reside in Richmond and Victoria, respectively.

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