FBI wiretaps ruthless Ontario fraudsters

FBI wiretaps ruthless Ontario fraudsters

FBI wiretaps ruthless Ontario fraudsters

The Canadian masterminds behind one of the largest international penny stock frauds in history were ruthless operators who bragged that bilking Americans was “like taking money from a baby,” according to FBI wiretaps.

In wiretaps released by the FBI, a person said to be Canadian national Kolt Curry described the advance fee scheme in the following way: “I would say that 100 percent of these stocks are like uh pink uh...just dumps...so...ya know they’re totally, they’re like, so a lot of these guys are dying...to get rid of this crap....The money is good, it’s easy. It’s easy money. Definitely easy money, and it’s good money.”

Wealth Professional reported last week that charges had been laid against Canadians Sandy Winnick, Kolt Curry, Greg Curry and others for schemes to defraud international investors by enticing them to invest in inactive Ontario-registered companies -- BMF and Liquid Gold -- through a fictitious Singapore investment bank.

As set forth in US court filings, the defendants masterminded securities fraud and advance fee schemes that victimized investors in approximately 35 nations and generated more than $140 million through various brokerage and bank accounts under their control. To uncover the international aspects of the scheme and gather evidence, the FBI used wiretaps in the US and undercover agents in foreign countries.

In one newly released FBI wiretap transcript, Kolt Curry brags about his prowess as a fraudster: “I had a guy send me a million dollars over one phone call .... He actually sent me almost two million dollars over the period of the hit .... I guess in the industry they coin it as a ‘smash and grab.’”

As for the group’s recent plans to open a call center in Brooklyn, New York, defendant Kolt Curry said, “I tell you what man...hitting the Americans would be like taking money from a baby.”

The Ontario Securities Commission revealed the charges against Kolt Curry and the others last week, but were unable to disclose further details, including the nationalities of the accused. “Since the matter is still before the Commission, we are unable to comment at this time,” and OSC spokesperson had told WP. “All public information on the matter can be found on our website.”

The FBI’s release provides much deeper detail. The Bureau said it on Tuesday arrested six men in New York, Arizona, New Jersey, Florida, and California for engaging in an international fraud conspiracy that spanned the globe from North America to Europe and Asia. A seventh defendant was also arrested on a provisional arrest warrant in Ontario, Canada.

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