Sentencing delayed for Kamloops Ponzi scammer
Sentencing has been delayed for a former Kamloops financial planner who admitted to duping at least eight clients over a five-year period.
Ed Chieduch was supposed to appear in Kamloops provincial court on Friday, June 7, to learn his fate, having pleaded guilty earlier this year to fraud over $5,000.
The 58-year-old entered a guilty plea on March 26 to a single charge covering eight separate offences.
According to court records, the offences began in 2005 and lasted until 2010, when the fraud allegations first came to light.
Later that year, Chieduch had his licence yanked by the Insurance Council of B.C.
He was charged criminally last year.
The circumstances of the offences have not yet come out in court, but KTW has learned through court documents and interviews with victims some of the scams saw Chieduch collect as much as $100,000.
One victim described the tactics as "a big Ponzi scheme."
Chieduch is slated to return to court for sentencing on June 21.