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September 30, 2006. This article appeared in the Kitchener-Waterloo Record. It is not related to TCI, but is an example of investment scams out there.

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Man charged after four defrauded of 340,000

WATERLOO REGION (Sep 30, 2006)

A 31-year-old Woodstock investor has been charged with defrauding four Kitchener-Waterloo residents of a total of 340,000.

"He would receive money to invest, but it was never invested," said Staff Sgt. Wally Hogg, who heads the fraud branch of Waterloo regional police.

The victims range in age from 61 to 88, and three are women and one is a man.

The largest amount of money lost was 125,000 and the lowest was 55,000. None of the money has been recovered, Hogg said. The alleged incidents occurred in 2004 and 2005.

Charged with four counts of fraud over 5,000 is Robert James Brick. He is scheduled to appear in Kitchener court on Dec. 19.

Brick was an investor with Roche Financial. He also had his own investment business called Wise Time Financial. Both businesses were located on King Street in Waterloo, Hogg said.

Fraud officers started investigating about five months ago when a woman called police saying she wasn't satisfied with the answers she was receiving from her investor.

"This came to light because he wasn't providing the information that she requested," Hogg said.

Officers put a hold on the man's bank accounts, "but there was nothing there to recoup," he said.

Police are now trying to trace the money.

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