Red Deer man to face trial for alleged $10.2M light tower pyramid scheme

A central Alberta man accused of bilking investors of $10.2 million in Canada and the U.S. in a pyramid scheme is to face a trial next year.

Joshua JamesTenhoveis charged with laundering crime proceeds, fraud and possession of property obtained by crime.

Mounties arrested him in 2017 following a search of a Red Deer home.

Police say the charges stem from a fraud investigation involving the purchase, sale and rental of mobile light towers by Silvertip Energy Inc.

The RCMP investigated allegations that Tenhove, Silvertip's owner, sold or rented light towers with the same serial number to multiple investors, and also sold or rented units that were never manufactured.

The alleged victims include five individual investors and corporations in Canada and the United States.

The trial is scheduled to run from April 14 to May 1, 2020.

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