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Gold/Mining/Energy : PROMOTERS - The Good, The Bad and The ...
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To: John Barendrecht who wrote (23)3/4/1997 8:03:00 PM
From: Walt   of 114
 
PHONEY PHONE-SEX SCAM MORE THEN 800 DUPED
(from edmonton sun tuesday March 4)
Investors in a suspected phoney phone sex buisness are still calling the Alberta Securities Commission.
"As of Friday, we've found 16 more investors" said Charles Blakey, spokesman for the ASC,said yesterday.
That brings the total to 866 who invested about $10 million in Midwest Marketing Group Inc. of Edmonton, a company which claimed it would invest in 1-800 and 1-900 telephone lines.
Blakey said apparently no lines were ever purchased and early investors were apparently paid dividends using money from later investors.
Staff Sgt. Richard Floyd of the RCMP commercial crime division said yesterday interviews with some of the alleged victims have taken place.
"We're still doing an ongoing investigation. It'll take awhile. There are other things we have to do on the file (before considering laying charges)" he said.
The ASC has interviewed one of the principals, Brian Lee Helfrick of Edmonton.
Partner Paul Deni Charbonneau, also of Edmonton, was still being held yesterday by the sheriffs office in Shelby Montana. A spokesman for U.S.Immigration could not be reached to confirm whether or not he has been charged.
The ASC has seized bank accounts belonging to the company and its two owners valued at $3.1 million.
Blakey has estimated investors could EVENTUALLY get back 50 cents on the dollar.

NO PHONE LINES BUT SOMEBODY HEARD THE BELLS RINGING
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