Sean Finn of Whitefish, Mont., was charged in December of last year along with five other people in the United States and Switzerland.
A news release issued at the time by the U.S. Department of Justice said the charges relate to a Swiss corporation named Malom Group AG. Malom is an acronym for "make a lot of money," the department said.
The Justice Department news release said that between October 2009 and October 2013 the company took $11 million from investors, who were promised high rates of return that did not materialize.
Finn was arrested in Canada in May of this year, and the U.S. government sought his extradition.
A B.C. Supreme Court judge said the evidence against Finn could support a conviction, so he'll be surrendered for extradition in 30 days unless Finn files an appeal. He is currently in custody.
The allegations against Finn have not been proven in court.
The B.C. court heard allegations that Finn promised investors significant returns in a short period of time; that he provided fraudulent bank documents that indicated his company was in possession of a significant amount of money; and he and others involved in the scheme paid themselves with the investors' money.
None of the victims received any return on their investments and they were denied a refund, the court heard.
According to Monday's B.C. Supreme Court Decision, Finn claims he was merely a broker who put investors in contact with other people connected to Malom, who he said were actually the ones committing the fraud.Suggest a correction