Kitchener resident charged with fraud released on bail

Posted May 15, 2014 09:23:21 AM.

This article is more than 5 years old.

One of two Kitchener residents, charged in an investment fraud, totalling $21 million, has been released on bail.

60 year old Karen Thomson-Ciccone was let out of jail yesterday. The Record says
a cousin stepped forward to put up $50,000 bail.

Her husband, 64 year old Vincent Ciccone remains in custody, but may also be freed on Friday if a surety is found for him.

RCMP announced the arrests last week.

It’s alleged some 160 investors lost millions from 2006 to 2010 after investing money with the Ciccone Group of Companies.

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