Silva Fagundes (right) and Emilia Alas-As Elansin (left)

Alberta couple accused of million-dollar investment scam may be in Kelowna

Fernando Honorate de Silva Fagundes and Emilia Alas-As Elansin are wanted on a Canada-wide warrant

An Alberta couple wanted on a Canada-wide warrant for allegedly operating a million-dollar investment scam might be in the Kelowna area.

According to Alberta RCMP, the husband and wife are believed to have operated a fraudulent investment company called Family First Dynasty Inc. in Millarville, Alta.

Fernando Honorate de Silva Fagundes, 65, and Emilia Alas-As Elansin, 40, both of no fixed address, have been charged with the following:

  • Fraud over $5,000
  • Theft over $5,000
  • Laundering the proceeds of crime

According to Cpl. Deanna Fontaine, an investigation into the couple uncovered a scheme that allegedly defrauded clients out of their finances and resulted in more than $1 million lost by victims.

Fagundes may have been operating under the alias of Jovan Cavallon and Elansin under Janelle Cavallon.

“Fagundes portrayed himself as a day-trading expert and used an investment course operated under another company of his, Day Trading Coach Inc., to approach victims with investment opportunities later determined to be fraudulent,” said Cpl. Fontaine.

Investors in both Alberta and B.C. reportedly provided money to Fagundes through Family First Dynasty Inc., believing he would trade finances in the stock market to make a profit. Elansin is believed to be responsible for managing the administration of Fagundes’ two companies.

Fagundes is reported to have committed similar frauds in Portugal, the United States, Saskatchewan, and Ontario. Fagundes and Elansin have fled the Millarville area and their current whereabouts are unknown, said Cpl. Fontaine.

If you have any information concerning the whereabouts of either Fagundes or Elansin or suspect yourself to be a victim of this particular scam, you are asked to contact IMET at 403-699-2434 or CalgaryIMET-EIPMFCalgary@rcmp-grc.gc.ca.


@Jen_zee
jen.zielinski@bpdigital.ca

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