Toronto Police Seek Accused Hedge Fund Fraudster

Date: Thursday, May 1, 2008
Author: FINalternatives.com

Canadian police are on the hunt for a man accused of defrauding investors of C$400,000 (US$395,000) in a hedge fund scam.

An arrest warrant for John Bygott was issued yesterday, the Globe and Mail reports. Toronto police allege he promoted a “high-yield hedge fund” to investors using phony documents; he faces seven counts of fraud and six counts of using a forged document.

Bygott is a former chairman of the Annex Residents’ Association, the volunteer neighborhood organization for one of Toronto’s more affluent sections, the Annex.