Alberta: 52-year-old convicted in sports investment schemes frauds costing victims $1.7 million

by The Canadian Parvasi

Team Parvasi – Inside

An Alberta man was found guilty and convicted of fraud and forgery after reportedly conducting a number of elaborate sports investment scheme frauds that cost his victims $1.7 million.

The accused, identified as 52-year-old Nickolas Ellis, was found guilty by the Edmonton Court of King’s Bench on eight counts of fraud over $5,000, three counts of use or trafficking in a forged document and three counts of identity fraud on January 17.

Ellis reportedly orchestrated a number of elaborate frauds employing the use of his connections to current and retired NHL players in order to build credibility with investors. 8 of Ellis’s friends, coworkers and neighbours were reportedly victims of the fraud, which he often carried out using fake emails, fabricated meetings, and forged paperwork. Media reports suggest that Ellis often impersonated individuals, including New York Islanders legend Mike Bossy, and generated fake correspondences with lawyers.

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“The investment opportunities presented by Mr. Ellis were a house of cards built on a foundation of deception…None of the investment opportunities were real and all were designed to generate substantial funds for Mr. Ellis at the expense of the investors,” wrote Justice John Henderson, according to media outlets.

The 52-year-old accused was initially charged on a 17-count amended indictment for his reported crimes that took place between February 2016 and March 2019, to which he pled not guilty in October of last year.

The largest of the schemes, according to media reports, was known as the Dynasty Project and ended up costing the three investors a collective $1.2 million.

“I conclude that the Dynasty Project was a sham. It was not real…It existed only in the mind of Mr. Ellis,” Justice Henderson stated.

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