Following a "complex and lengthy" investigation, Sylvan Lake RCMP has charged a man with five counts of fraud and say the alleged victims lost a combined total of more than $100,000.
Police say a person contacted them in June 2019 saying they had invested in two companies dating back to June 2018.
An investigation was launched involving the Red Deer RCMP financial crimes unit and members of the general investigation section. Four other people later came forward, alleging they had also invested money with the accused, under the guise of developing safety products.
Bradley Boksteyn, 58, of Sylvan Lake is charged with five counts of false pretences over $5,000 and five counts of fraud over $5,000.
Boksteyn was released from custody and is scheduled to appear in a Red Deer courtroom on Jan. 20.
Anyone with information is asked to call RCMP at 403-343-5575.