On Monday, March 4, 2019, two complainants approached police about a $70,000 investment they had made in a business deal that they believed may not be legitimate. It was reported to police that Brian Desmond Penney, 48, had approached them with an opportunity to invest in a steel fabrication business. Penney reportedly asked the complainants for money to pay for start-up costs for the business. After conducting a background information search on Penney, the complainants became concerned the opportunity may not be real and they immediately contacted police.
Investigators with the EPS Economic Crimes Section believe that Penney had no intention of establishing the business and on Thursday, March 7, 2019, Penney was arrested and charged with fraud over $5,000.
Detectives are currently investigating similar incidents involving Penney and believe that he has been defrauding individuals for over a year. As a result, they believe there may be other complainants and are releasing his photo to encourage them to come forward.
Brian Desmond Penney, 48
Weight: 250 lbs
Anyone who believes they may have been victimized by Penney can contact the Edmonton Police Service at 780-423-4567 or #377 from a mobile phone. Anonymous information can also be submitted to Crime Stoppers at 1-800-222-8477 or online at www.p3tips.com/250.