The Alberta Securities Commission (ASC) and the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team (IMET) announced that Yuvraj Verma and Rohit Sethi have each been charged with seven offences under the Criminal Code following an investigation by the Joint Serious Offences Team (JSOT) into an Edmonton-based real estate investment scheme. Authorities allege that between 2018 and 2020 the accused, operating through several corporations including Cancom Development Ltd. and Roxdale Gardens Ltd., raised about CAD 6.8 million from investors and represented that 45% of funds would be retained for future dividends, when no funds were retained and investor money was allegedly diverted to other businesses they controlled. The release also alleges the use of a ticket scheme tied to an advertised prize of a residential lot in Leduc County (with a winner selected but no prize delivered) and the forging of mortgage documents by altering mortgage agreement terms to 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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