RCMP in London, Ont. have charged six people in connection with an alleged “large-scale” investment fraud.

The investigation by members of the RCMP’s Commercial Crime Section in London was launched in 2006 following a complaint alleging a large scale fraudulent investment made in Toronto-based, Themed Technological Innovations (TTI).

The investigation traced the investment funds to financial accounts controlled by TTI and revealed that the victim investments were converted for the personal use of those charged.

Charged with fraud over $5,000 are:

> Ross Alexander of London;

> Richard Hughes of Kitchener, Ont.;

> Matthew Sherban of Toronto,;

> Peter Snyder of Woodstock, Ont.; and

Peter Turcaj of Toronto.

“Investors need to be assured that their investments are not going into fraudulent ventures,” stated Inspector Dwight Blok, Officer in Charge of RCMP London Detachment. “The investment promised a return of 40% in four months. No return was received, contact between investors and the company decreased with various excuses offered to the victim including problems with the bank due to new laws passed after 9/11.”

RCMP said an arrest warrant has been issued for one other person.

First appearance is scheduled for September 2 in London.