A Calgary businessman is facing fraud and theft charges in a multimillion-dollar commercial real estate scam.
The RCMP allege the head of Platinum Equities sold the Dominion Place building in Calgary for his own benefit, even though it was purchased with money from investors.
Police further allege Srinivasan (Sharif) Chandran was providing false information to investors from 2005 to 2013 and diverted funds to other business ventures.
An investigation began about two years ago after police received a number of complaints from investors who said they were defrauded of roughly $20 million.
Chandran, who is 42, also faces a civil lawsuit filed by investors.
(CHQR)
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