The Alberta Securities Commission (ASC) and the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team (IMET) announced that Edmonton residents Yuvraj Verma and Rohit Sethi have each been charged with seven Criminal Code offences following an investigation by the Joint Serious Offences Team (JSOT). The allegations relate to fundraising between 2018 and 2020 of approximately CAD 6.8 million from investors for an Edmonton-based real estate project through several corporations, including Cancom Development Ltd. and Roxdale Gardens Ltd. The release alleges investor funds were not retained for dividends as represented and were instead diverted to other businesses controlled by the accused, that a lottery prize of a residential lot in Leduc County was never delivered to the selected winner, and that mortgage documents were forged by altering mortgage terms for the accused’s financial benefit. Charges include fraud over CAD 5,000, making and circulating a false prospectus, managing a ticket scheme (two counts), uttering forged documents, and laundering the proceeds of crime (two counts). Both accused were released on conditions, including bans on selling or trading securities on behalf of others and contacting certain investors. Their first court appearance is scheduled for October 1, 2025 in Edmonton.

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