Following a two-year police investigation, a 36-year-old Edmonton businessman is facing 74 fraud and theft-related charges.
Vimal Iyer, who is the CEO of Trident Properties, is alleged to have promoted and sold undivided interests to 120 investors in three different land developments northeast of Edmonton.
Police believe Iyer made false representations to investors about making "raw" land sellable between 2007 and 2009.
The Alberta Securities Commission says Trident Properties raised about $6.5 million through these sales.
The 36-year-old is free on bail and is scheduled to appear in court on April 7th.
