Source: Royal Canadian Mounted Police
The Yellowknife RCMP have arrested one person in connection with a $250,000 fraud investigation. The investigation relates to the Northern Sky Film that was registered as a company in 2017. Investigators were alerted that one of the business partners who was involved in the business had misappropriated funds from loans that were obtained through the Business Development Bank of Canada. Investigators learned that loans were taken out to support the development of Northern Sky Film and that these funds, totalling $250,000, were funneled into a personal account before being further dispersed. The loans were then signed over another business partner who is now responsible for the repayment of the funds. The investigation revealed that these funds were not used for the intended purpose of developing and sustaining the business.
The investigation was initially opened in 2021 and has been undertaken by the Yellowknife General Investigation Section. Financial investigations are complex and time consuming and require specialized investigative knowledge. Charges relating to fraud and money laundering are pending and the investigation is on-going.