Canadian Pigeon Ponzi Scheme Leaves One Wanting More And Also Less
Say what you will about Canada but their Ponzi scheming set is willing to tread where its more southern counterparts have not. Yeah, we have big number schemes but no one really thinks outside the box. Like pigeon-farming scams. Have we ever had one of those? No, we just feed the damn things rather than think about exploiting them for cash.
An Ontario man accused in an alleged $1-million pigeon breeding scheme has been charged with fraud and violations of bankruptcy laws. Arlan Galbraith, the 62-year-old owner of Pigeon King International, was arrested Wednesday after surrendering to police in Kitchener. Galbraith, from Cochrane, Ont., is charged with one count of fraud over $5,000 and four counts under the Bankruptcy and Insolvency Act. Police allege Galbraith defrauded people in Canada and the United States out of a total of $1 million between 2004 and 2008. It's estimated about 1,000 people invested a total of $20 million in the purchase of pigeons while allegedly being promised guaranteed financial returns.
You want to hear more, right? Some sort of business plan at least.
The pigeons were to be sold in pairs to farmers for breeding, part of a plan to ultimately produce pigeon meat for the consumer market.
Or...maybe we should just never speak of this again?
