A complex fraud case in Chatham-Kent will finally be tried.
Two of the three former directors of Banknote Capital, an investment company in Chatham, will have their cases go to trial in August, October, and November 2026.
On Thursday, the court in Chatham heard that the trial is expected to last four weeks, but it had to be done in stages because the prosecution and the defence are busy and already committed to other cases.
Delay to get to trial is also an issue.
The trial dates will be confirmed in Chatham court on January 20, 2026.
In April 2025, Ryan Rumble, Michael Dziedzic, and Justin Foss were charged with fraud by the Ontario Securities Commission (OSC). They have each been charged with one count of fraud over $5,000. Rumble is also charged with one count of forging a document.
The OSC alleged that from November 2020 to August 2023, the three accused raised more than $11 million from investors by promising high rates of return and guaranteed principal. However, the local investors alleged they were duped and did not receive a "full" return on their investment.
The OSC alleged that the funds collected from new investors were used to repay existing investors and were diverted for the personal benefit of Rumble.
Dziedzic and Foss surrendered to authorities and were released with court conditions.
