Canmore accountant accused of cheating clients out of $100K

A Canmoremanis facing charges following a months long fraudinvestigation by the RCMP in the mountain town.

"This is the first I've heard of something happening like this in Canmore,"saidSgt. Ryan Currie.

Police began their investigation last June following complaints from local people and businesses worried about their investments, says Currie.

He estimates the alleged victimslost more than $100,000.

James Russell Neilson, 49,is charged with three counts of fraud over $5,000, one count of theft over $5,000 and one count of laundering the proceeds of crime.

Neilson, who lives in Canmore,was arrested on May 13andhas since been released on bail withstrict conditions.

He is set to appear in Canmoreprovincial court onMay 27.

"Basically all the offences have taken place in Canmore. That's due to the fact that's where the charged has been residing and also has his business set up," said Currie.

"Some of the investors are from around Canada, but also overseas."

Canmore RCMP are asking that anyone else who believes they may have been a victim to contact the detachment at 403-678-5519.