Toronto Police Seek Accused Hedge Fund Fraudster
April 30, 2008
Canadian police are on the hunt for a man accused of defrauding investors of C$400,000 (US$395,000) in a hedge fund scam.
An arrest warrant for John Bygott was issued yesterday, the Globe and Mail reports. Toronto police allege he promoted a “high-yield hedge fund” to investors using phony documents; he faces seven counts of fraud and six counts of using a forged document.
Bygott is a former chairman of the Annex Residents’ Association, the volunteer neighborhood organization for one of Toronto’s more affluent sections, the Annex.
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