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Canadian CEO accused of fraud, suspected to have fled country

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Friday, January 12, 2007

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Police are now searching Canada-wide for 25-year-old Adam Spencer, a man with ties to the Oakville, Ontario and Toronto areas. He is a motivational speaker, and the founder/chief executive (CEO) of Emexis Integrated Solutions, an upstart information technology company.

First off, Spencer told investors between September 2005 and May of last year that he was making Emexis a public company, located in downtown Toronto. He allegedly took CAN$8 million from Canadian investors, defrauded 100 investors out of amounts ranging from CAN$5,000 to as much as CAN$2 million each in a couple of cases, and is on the run with their cash.

Police don't even know if he is still in Canada. They suspect that he could be in England because he has a passport there.

Spencer travels to car race events all around the world.

Wikinews will continue to follow this story as updates are known.

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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