Investment Fraud

Posted: Oct. 21, 2010 Under: Halton Region Permanent Link to this Article

Halton Regional Police Service

On the 03rd of June 2008 Halton Regional Police were contacted by the Chief Financial Officer of a Burlington Ontario company known as Majestic Supply Co. Inc.

The allegation of fraud was investigated by members of the Regional Fraud Unit with the assistance of the Ontario Securities Commission.

The investigation into Majestic Supply Co. Inc. revealed that investors were told that this company had developed an environmentally friendly “miracle ink” and that it was ready to market the ink in North America. Approximately 134 investors were lead to believe that Majestic Supply Co. Inc. was poised to generate large profits over a short period of time; the loss to investors is four million dollars.

On October 12, 2010, Hebert Adams surrendered himself to police and has been charged with four counts of fraud over $5000. Mr. ADAMS was released on a Promise to Appear for a first appearance date of the 08th of December 2010 in Milton Court, 491 Steeles Ave. E Milton.

The OSC is examining evidence related to possible infractions of the Ontario Securities Act.

Remember the Best Way to Help Stop Fraud Is to Report It.

The Halton Regional Police Service is continuing to investigate this incident. Anyone with information related to it is asked to contact the Regional Fraud Unit at (905) 825-4777 Ext 8738 or by calling Crime Stoppers at 1-800-222-TIPS (8477).


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