RCMP lay charges and make arrest in alleged Ponzi Scheme

LETHBRIDGE - June 30, 2011 - As a result of a 2 ½ year investigation, the RCMP Integrated Market Enforcement Team ( IMET) charged three Alberta residents for allegedly illegally diverting money from a British Columbia resident between April 1, 2009 and October 31, 2010. Charged are: Anthony Pittarelli, age 42 , Marisa Campanelli-Pittarelli, age 63, and Claudia Pittarelli age 36,all of Lethbridge Alberta each with the following four offences under the Criminal Code:

Theft over $5000.00 - Section 334(a)
Fraud over $5000.00 - Section 380(1)
Possession of the Proceeds of Crime - Section 355
Money Laundering - Section 462.31

Marisa Campanelli-Pittarelli was arrested on June 29th in Lethbridge,and is in custody until bail conditions can be met. Her next appearance is set for July 13th, 0930 Court Room #1 Lethbridge Alberta.

Warrants for arrest have been issued by the courts for Anthony Pittarelli and Claudia Pittarelli.

It is alleged that the three accused operated a Ponzi scheme which defrauded the investor of over $560,000 dollars. The investment in question offered a very high rate of return through the resale of event tickets. It is alleged that there was no legitimate resale business and investors were paid from other investors’ money. The investigation has also revealed that the accused used investors’ money for personal enrichment.

Additional information;

These charges are only part of an ongoing criminal investigation into the operations of these three individuals and their related business ventures. The police believe that the three accused operated Front Row Tickets of Lethbridge, Alberta and other related ventures and perpetrated a Ponzi scheme which defrauded hundreds of investors in Western Canada and the United States. They promised high rates of return through the resale of event tickets. Returns varied but were as high as 100% or more, payable in a short time period. It is alleged there was no legitimate ticket resale business and the funds were taken from one investor to pay other investors.

Front Row Tickets were the subject of an Alberta Securities Commission regulatory action.

The Calgary IMET worked with the Public Prosecutions Services of Canada, Alberta Justice, FINTRAC (Financial Transactions and Reports Analysis Centre), Lethbridge Regional Police Service and Alberta Securities Commission on this ongoing investigation.

Anyone who has information or believes they have been victimized in this scheme is asked to call 403-292-8673 to provide their information to investigators.

The Integrated market Enforcement Team program prevents, investigates and prosecutes serious Criminal Code capital market fraud offences that are of regional or national significance and that threaten investor confidence or economic stability in Canada. Maintaining investor confidence in Canada’s publically traded companies, capital markets and other investments is crucial in today’s economic environment.

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Contact:

Acting Inspector Gord Sereda
RCMP, Calgary IMET
403 292 8716