Lethbridge police received a complaint in 2012 and began an investigation.
Members of the Economic Crimes Section allege that between 2008 and 2011 Nature Zone Environmental Solutions, working in partnership with a man, solicited investments from across Canada.
Police say the man told investors he had secured patents for water and soil remediation technology when he actually hadn't.
Alan Lloyd Kirby, who is 56, of Diamond City appeared in court Tuesday and was released on bail.
He is set to appear again on May 5.