By Sheldon Spackman

Marc Leon St. Pierre

Former financial advisor sentenced to nearly seven years after embezzling millions from Red Deer and area clients

Oct 7, 2025 | 2:04 PM

A Calgary man charged with fraud-related offences after embezzling millions of dollars from his clients including more than a dozen in the Red Deer area, has been sentenced to 6.9 years in jail.

Marc Leon St. Pierre, 54, was sentenced in Red Deer Court of Justice on Sept. 29, 2025, after being convicted on one count of fraud over $5000. A count of theft over $5000 was withdrawn.

St. Pierre was also ordered to pay $5,296,944.20 in restitution.

It was on April 4, 2024, when the RCMP’s Provincial Financial Crime Team charged a Calgary resident for fraud-related offences after embezzling millions of dollars from his clients while serving as a senior financial advisor.

The crimes are said to have taken place from April 1, 2015-Aug. 31, 2021.

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Following a thorough investigation, RCMP alleged the suspect to have fraudulently withdrawn funds from client accounts and deposited them into bank accounts he personally controlled. Police identified a total of 16 victims in the Red Deer area who they say suffered a combined loss of nearly $5 million.

Marc St. Pierre was originally arrested and charged with fraud over $5,000, and theft over $5,000.

“The ability for financial advisors to leverage their position to conduct frauds and investment scams represents a significant risk to the integrity of Alberta’s financial institutions,” said Sgt. John Lamming, Provincial Financial Crime Team in a media release following St. Pierre’s arrest. “The investigation serves as an important reminder for all banking clients to regularly check their accounts for any suspicious activity and to report it to their bank’s fraud prevention team.”

RCMP say the Provincial Financial Crime Team is a specialized unit that conducts investigations relating to multi-jurisdictional serious fraud, investments scams and corruption.