3 men facing charges in gemstone investment fraud investigation
Posted July 21, 2017 1:39 pm.
This article is more than 5 years old.
Three men have been arrested in connection with a gemstone investment fraud investigation.
Police say representatives from companies called Royal Fine Jewels or Nygard and Associates allegedly contacted victims and gave them false information about the value of jewelry or gemstones they had purchased.
The victims were also given false information about buyers for those valuables. The victims then entered into sales agreements with non-existent companies called TSE Marketing and Vargas Marketing. The companies being fake, the sales agreements were never fulfilled.
After an investigation, Steven Rosen, 63, from East Gwillimbury; Edward Rosenburg, 52, from Richmond Hill; and David Pelcowitz, 54, from Thornhill, were arrested.
Police say the men also used a number of aliases:
– Hunter Stevens
– Russell White
– George Bannister
– Peter Nygard
– Dean Myers
– Maria Muldar
– Cathy Holmes
All three men were charged with fraud over $5,000.
