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ORILLIA — Police in central Ontario have laid a dozen charges against a financial advisor who is alleged to have stolen more than $1.8 million from clients.
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The Ontario Provincial Police says the local advisor is charged with defrauding the public and eleven counts of uttering a forged document.
They say 40-year-old Kevin Douse, of the Township of Severn, was arrested Thursday after a 16-month investigation.
Police allege some clients were asked to provide investment funds by cheque payable to Douse instead of payable to the investment company, adding roughly $1.8 million is suspected to have been misallocated.
In some cases, Douse is accused of forging investment and insurance paperwork to hide the misallocation of funds.
Police say investors should regularly review investment statements and keep track of all transactions to ensure funds are directed into intended products.
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