RCMP probing Ponzi scheme targeting Sackville church
Posted Jun 9, 2011 06:27:21 AM.
This article is more than 5 years old.
The RCMP has confirmed officers are investigating an alleged Ponzi scheme that targeted several members of a Sackville church.
The Herald business section is reporting the Mounties are investigating Jabez Financial Services.
The Nova Scotia Securities Commission alleges Jabez brought about trades valued at close to $3.2 million from 137 Nova Scotia residents.
A number of them were parishioners of the Rock Church.
The scheme promoted annual returns of 214 per cent, investors are only expected to get 13 cents on the dollar from the receiver.
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