Man charged for alleged bogus business deal; Edmonton police seek additional complainants

Edmonton, Alberta – The Edmonton Police Service is seeking additional complaints after charging a 48-year-old Edmonton man with fraud related to an alleged bogus business deal.

On Monday, March 4, 2019, two complainants approached police about a $70,000 investment they had made in a business deal that they believed may not be legitimate. It was reported to police that Brian Desmond Penney, 48, had approached them with an opportunity to invest in a steel fabrication business. Penney reportedly asked the complainants for money to pay for start-up costs for the business. After conducting a background information search on Penney, the complainants became concerned the opportunity may not be real and they immediately contacted police.

Investigators with the EPS Economic Crimes Section believe that Penney had no intention of establishing the business and on Thursday, March 7, 2019, Penney was arrested and charged with fraud over $5,000.

Brian Desmond Penney, 48
Brian Desmond Penney, 48

Detectives are currently investigating similar incidents involving Penney and believe that he has been defrauding individuals for over a year. As a result, they believe there may be other complainants and are releasing his photo to encourage them to come forward.

Anyone who believes they may have been victimized by Penney can contact the Edmonton Police Service at 780-423-4567 or #377 from a mobile phone. Anonymous information can also be submitted to Crime Stoppers at 1-800-222-8477 or online at www.p3tips.com/250.

MRU #: 19R030

Edmonton Police Service
“Dedicated to Protect, Proud to Serve”



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