Man who founded Pigeon King, guilty of fraud
Posted Dec 6, 2013 06:12:22 AM.
This article is more than 5 years old.
The man who ran Pigeon King International has been found guilty of fraud, after more than two days of jury deliberations.
The verdict was handed down in a Kitchener court, late Thursday morning, against Arlan Galbraith.
The jury heard how Galbraith lured investors by claiming there was a market for pigeon meat.
He recruited hundreds of farmers in Canada and the United States to raise pigeons.
The company made its money by marketing breeding pairs – then promising to buy back offspring at a profitable rate.
It’s estimated that investors lost $20-million when the Waterloo-based company suddenly declared bankruptcy in 2008.
