The Alberta Securities Commission and the Royal Canadian Mounted Police Federal Policing Northwest Region’s Integrated Market Enforcement Team announced charges against Charles Iggulden and Peter Iggulden under Alberta’s Securities Act following a Joint Serious Offences Team investigation. Charles Iggulden faces two fraud counts and Peter Iggulden faces one. Each also faces one count of illegal distribution of securities. The allegations concern funds raised between 2020 and 2023 in exchange for voting shares in Infinity Petroleum Energy Resources Inc. Investors were allegedly led to believe their money would finance biofuel facility development in Alberta and Africa, but the funds were used for other purposes, including personal use. The allegations also include failure to deliver the promised shares or repay investors who requested their money back, misleading statements to attract investment, and continued fundraising after Infinity was struck from the corporate registry in 2022. The illegal distribution charges allege that the pair accepted investor funds for securities without filing and obtaining a receipt for a preliminary prospectus or prospectus, and without an available exemption under Alberta securities laws. Their first court appearance is scheduled for December 3, 2026, at the Alberta Court of Justice in Fort Saskatchewan.

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