Coaldale Man Arrested, Accused in Ongoing "Gifting Scam"

57 year old Steele Cameron Tolman is facing fraud charges, accused of being one of the main presenters promoting the gifting circle scam here in Alberta.

Lethbridge Police are helping put an end to a gifting circle scam, allegedly run by a Coaldale man.

Members of the LPS Economic Crimes Unit say gifting circles were introduced in Lethbridge, Calgary and Edmonton between September 2018 and May 2019. The scheme promises “no risk” and guarantees a “gift” of $5,000 will result in a return of $40,000.

Once funds have been paid, the person is then responsible for recruiting two more people to “gift” money, which eventually leads to a loss of funds by those who have paid in when new recruits cannot be found.

Anyone receiving payments or those willing to promote the scheme could be charged criminally.

LPS have identified 57 year old Steele Cameron Tolman of Coaldale as one of the main presenters promoting the gifting circle scam here in Alberta.

He's since been charged with fraud over $5000 and possession of the proceeds of crime over $5000. Tolman was released from jail and will appear in court May 17.

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