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An Alberta man is facing criminal fraud charges in connection with $2 million that was allegedly raised from various investors.

The RCMP and the Alberta Securities Commission (ASC) announced that Nicholas John Felgate has been charged with eight counts of fraud over $5,000 and one count of money laundering.

According to the ASC, Felgate “fraudulently raised” over $2 million from 11 investors in exchange for promissory notes, loan agreements or asset agreements. The allegations have not been proven.

The ASC issued an interim cease trade order against Felgate on March 2, 2018.

Felgate was charged following an investigation by Alberta’s Joint Serious Offences Team (JSOT), which is a partnership between the ASC, the RCMP and the Alberta Crown Prosecution Service to investigate securities-related criminal offences.

His first court appearance was scheduled for Feb. 14 at the Provincial Court of Alberta in Calgary.