Scam victim wants his $20K
The first of the eight victims of a Kamloops Ponzi scheme for which a former financial planner is now serving a two-year federal prison sentence has filed a court action looking for his money back.
In court documents filed last week, Doug Williams, one of the victims Ed Chieduch bilked during a five-year scam that ended in 2010, filed a restitution order seeking $20,000 — the amount he invested in Chieduch’s scheme.
Chieduch pleaded guilty in March to fraud over $5,000. He swindled eight clients for a total of $312,000.
In court, the 58-year-old claimed he was a victim himself and said he stole the money from his clients to cover losses incurred in a so-called Nigerian email scam.
Kamloops provincial court Judge Chris Cleavely called that story “callous.”
By law, Williams’ $20,000 — and the money owing to the rest of the victims — is payable within 30 days, unless Chieduch plans to file an appeal.
If Chieduch does not have the money to pay back his victims — and, court heard, he recently filed for bankruptcy — the restitution order will act as a judgement against him in civil court.