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Canadian Fraud Case
128 Bank Deposits Detected Here
Company Received Majority of the Money
Adrian Meza G. ameza@nacion.com National Editor
A total of 128 bank deposits, directed to the Society of Southern Magical Mountains, and to Robert Albert Fox, alerted the Costa Rican authorities about the irregular movement of money coming in from Canada.
These transactions began to show up on March 21, 2001, according to an order issued by the Supreme Court of Canada) when a $100,000 deposit was made to the account of Magical Mountains, of which Fox is the president.
The Canadian authorities and CICAD have determined that over $40,000,000 in deposits entered Costa Rica and that this money is part of a $100,000,000 fraud originating in Toronto, Canada by Salim Mohammad Dajim. Dajim created the Strategic System of Commerce and began to sell options.
The investors were deceived by Dajim as they were told they would receive $20 for every $1 they invested...something that never happened.
Hundreds of people have been affected by this scam.
After a period of time, the scam was discovered; however, the money had already been transferred to Costa Rica. Magical Mountains has received over $32 million as of last April. Soon after, personal transactions were made to the individual account of Fox.
Costa Rica got involved when a Canadian company also began to send money to the personal accounts of Fox. The deposits were large, surpassing the $10,000 limit that the country allows for undetected transactions.
As a result, Banco Nacional and Banco de Costa Rica (where the accounts were located) reported the movements to the correct regulatory body.
Soon, when Canadian authorities were consulted it became apparent that the money was dirty. Part of the deposits were later moved to accounts in Switzerland. The authorities are investigating Fox and the other entities he is involved with as well as other key personnel.
An official document from the Public Ministry indicates that 11 companies are involved in the fraud (with Magical Mountains being the main company) and many of them are tied to Costa Rica International Sports who also received a portion of this money.
All of these companies are being investigated now by the judicial authorities. Depending on the result of the investigation, criminal fraud cases could be opened in Costa Rica according to the Court Department of Information and Public Relations.
128 Bank Deposits Detected Here
Company Received Majority of the Money
Adrian Meza G. ameza@nacion.com National Editor
A total of 128 bank deposits, directed to the Society of Southern Magical Mountains, and to Robert Albert Fox, alerted the Costa Rican authorities about the irregular movement of money coming in from Canada.
These transactions began to show up on March 21, 2001, according to an order issued by the Supreme Court of Canada) when a $100,000 deposit was made to the account of Magical Mountains, of which Fox is the president.
The Canadian authorities and CICAD have determined that over $40,000,000 in deposits entered Costa Rica and that this money is part of a $100,000,000 fraud originating in Toronto, Canada by Salim Mohammad Dajim. Dajim created the Strategic System of Commerce and began to sell options.
The investors were deceived by Dajim as they were told they would receive $20 for every $1 they invested...something that never happened.
Hundreds of people have been affected by this scam.
After a period of time, the scam was discovered; however, the money had already been transferred to Costa Rica. Magical Mountains has received over $32 million as of last April. Soon after, personal transactions were made to the individual account of Fox.
Costa Rica got involved when a Canadian company also began to send money to the personal accounts of Fox. The deposits were large, surpassing the $10,000 limit that the country allows for undetected transactions.
As a result, Banco Nacional and Banco de Costa Rica (where the accounts were located) reported the movements to the correct regulatory body.
Soon, when Canadian authorities were consulted it became apparent that the money was dirty. Part of the deposits were later moved to accounts in Switzerland. The authorities are investigating Fox and the other entities he is involved with as well as other key personnel.
An official document from the Public Ministry indicates that 11 companies are involved in the fraud (with Magical Mountains being the main company) and many of them are tied to Costa Rica International Sports who also received a portion of this money.
All of these companies are being investigated now by the judicial authorities. Depending on the result of the investigation, criminal fraud cases could be opened in Costa Rica according to the Court Department of Information and Public Relations.
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