Friday, October 21, 2022

Cop's Ponzi scheme lassos 40 other cops - dead

Larry Renton, who was a detective-sergeant when he retired in 2016, died at his home on Sunday. He was 58.
Ponzi schemer Det. Sgt. Larry Renton operated his investment scheme out of his West Region Ontario Provincial Police office in the town of Simcoe, then continued from home after he retired. He promised investors staggering returns and suckered dozens of OPP and municipal officers.

An estimated 40 officers of all ranks and an unknown number of civilians lost between $15m to $20m.
Renton retired at age 52.
Renton was not registered with the province of Ontario as a financial adviser or investment dealer. In his emails to investors, many of them police, he routinely reminded them that for every big investor they brought him, he would provide a 5% fee.