Red Deer man convicted in Ponzi schemes sentenced to four years
A Red Deer man accused in an over $10 million fraud and money laundering case dating back to 2016 has been sentenced to four years in jail.
Joshua James Tenhove, 50, was also ordered to pay $3,287,007 in restitution to his victims after being sentenced in Red Deer Court of Queen’s Bench on July 28, 2022.
Tenhove was accused of using Ponzi schemes to steal millions of dollars from investors and pleaded guilty in Red Deer Court of Queen’s Bench on Sept. 7, 2021.
He was convicted on one count of committing a falsehood by deceit or other fraudulent means, unlawfully defrauding Finning Cat, Alberta Treasury Branch, and the public, of monies of a value exceeding $5,000.