Ex-Blue Bomber guilty of massive fraud

Former Blue Bomber David Pitcher is being sentenced for defrauding a number of people and...

Former Blue Bomber David Pitcher is being sentenced for defrauding a number of people and organizations, including one investment group he took $5 million from. A sentencing hearing was held in Winnipeg on July 29, 2014. (WEB PHOTO)

DEAN PRITCHARD, QMI Agency

, Last Updated: 8:12 PM ET

WINNIPEG - A former Winnipeg Blue Bomber has admitted responsibility for a fraud that cheated investors out of more than $5 million.

David Pitcher, 47, pleaded guilty Tuesday to seven counts of fraud and 10 counts of uttering forged documents in connection with offences committed between 2005 and 2012.

Court heard Pitcher encouraged victims to invest in his company, Community Endowment Funds (CEF), claiming it had been registered as a non-profit organization when it had not.

Pitcher told investors the company was federally funded but periodically required “bridge loans” to keep operating, Crown attorney Peter Edgett told court.

“Mr. Pitcher claimed that the loans would be returned plus a generous interest to the investors once new federal funding was received,” Edgett said. “In fact, CEF was not entitled to any federal funding during this period.”


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