Sixty-one-year-old financial planner Arvin Patel faces 32 charges under the Securities Act.
Police allege Patel was partners with Rashida Samji, who the B.C. Securities Commission says defrauded investors of $100 million by promising their funds would earn money in a trust account while helping a winery.
In January, the commission ordered Samji to pay $33 million in fines and $11 million in compensation to investors.
Samji also faces theft and fraud charges and a class-action lawsuit, although none of the allegations against her or Patel have been proven in court.
Insp. Mark van Schie says the scheme was based on offering returns from future investors instead of legitimate business endeavours.