Banners Broker’s ‘Ponzi’ accounts frozen

Police in Canada have claimed the masterminds of the Banners Broker advertising website, which netted 12,000 investors here, were operating a pyramid scheme which "evolved into a straight Ponzi scheme".

The Royal Canadian Mounted Police has also claimed that Christopher George Smith, Rajiv Dixit, and “others known or unknown” possessed and laundered the proceeds of crime.

The Mounties have succeeded in freezing a number of accounts in Canada containing hundreds of thousands of dollars and linked to the Banners Broker scheme.