Charges over Pigeon King
Posted Dec 2, 2010 10:26:34 AM.
This article is more than 5 years old.
The owner and sole shareholder of Pigeon King International is now facing criminal charges.
Regional Police say 62-year old Arlan Galbraith was arrested yesterday after turning himself in at the Kitchener detachment.
Police estimate about one thousand people invested a total of $20-million in the purchase of pigeons while allegedly being promised guaranteed financial returns.
Galbraith is charged with one count of Fraud Over $5,000, and four counts under the Bankruptcy and Insolvency Act, in connection with what police call a “lengthy investigation” alongside the RCMP.
The criminal fraud charge relates to allegations that Galbraith defrauded individuals in Canada and United States for over $1-million between 2004 and, the date of the company’s bankruptcy in 2008.
The four bankruptcy charges relate to specific violations of the Bankruptcy and Insolvency Act involving fraudulent contracts and failure to comply with bankruptcy regulations.
Police say no further charges are anticipated at this time.
Galbraith returns to court January 25, 2011.
Meanwhile, Police continue to investigate the case and anyone with information about Galbraith or Pigeon King is asked to contact the Fraud Branch.
