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RED DEER, Alta. — A central Alberta Sylvan Lake man faces fraud charges over an oilfield product that was supposed to have resulted in big profits.
RCMP say investors instead lost $2.6 million.
Red Deer’s financial crimes unit alleges Dale Skinner of Sylvan Lake said his product could cut costs and improve environmental outcomes during fracking.
Police say at least 16 people sunk money into the scheme, although it had never been tested on actual wells.
Const. William Lewadniuk says doubts began in 2013 when cheques Skinner cut to his investors all bounced.
Skinner faces charges of fraud, money laundering and uttering threats.
The Canadian Press
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