A judge ruled that James Edward “Jim” Pellerin made false representations to his lenders about the security interest of their loans, then paid himself about $150,000 in salary — plus other personal fees and expenses — with funds withdrawn from their investments.
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A prominent Ottawa real estate investor who has authored multiple books on the subject has been found guilty of defrauding 17 different lenders of $30,000 each on a failed house-flipping scheme in Carleton Place.
James Edward “Jim” Pellerin was found guilty on 27 counts of fraud by Superior Court Justice Robert J. Smith after
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