Victims of Next Level Investments fraud may file restitution requests

Kingston Police have released information regarding how to file restitution requests for Next Level Investments, which operated in Kingston from 2016 to 2017.

The Ministry of the Attorney General is in receipt of limited forfeited proceeds of crime resulting from the prosecution, conviction and sentencing of individuals associated with Next Level Capital Group, the “fraudulent foreign exchange investment scheme in the Kingston area,” Kingston Police said in a press release on Tuesday, Nov. 19, 2019. The proceeds of crime were ordered forfeited at the sentencing of certain individuals who were involved in the investment scheme, and are currently being held by the Restraint and Forfeiture Office at Ontario’s Ministry of the Attorney General.

“The forfeiture orders from the court provide that the forfeited proceeds are to be disposed of as the Attorney General directs. The Attorney General has directed that the proceeds are to be voluntarily distributed to verified victims on a pro rata basis,” the press release reads.

As a result, the Restraint and Forfeiture Offices has set up a limited compensation plan designed to supplement but not replace any action that the victims of the Next Level scheme have taken or may seek to take at their own expense and initiative in the civil courts.

Those wanting more information about whether to and/or how to submit a claim under this limited compensation plan are asked to send email with their full name and contact information to [email protected].

All claims for restitution must be made through the Ministry and not through Kingston Police. If you have submitted an online report to Kingston Police for restitution, the report cannot be processed and will not be reviewed by the Ministry.

All claims must be submitted no later than 5 p.m. EST on March 31, 2020.

The following are some notes about this situation from Kingston Police:

  1. Your claim may be denied if you are unable to provide proof of your claim.  Proof of claim will generally require written proof of payment to Next Level by you. Your claim will be verified against what should be a corresponding deposit made to the Next Level books and accounts which were gathered during the investigation. Responsibility for proving a claim rests with the claimant. There is no entitlement to any compensation.
  • The claims process will make every effort to give   fair and equal consideration to each claim, including at its discretion, requesting or seeking further information, but all decisions made under the compensation plan are final. The compensation plan is a supplement and not a substitute for action in the civil courts by investors.
  • Successful claims will be paid out of the limited recovered funds on a pro rata basis and investors will recover only a portion of their losses.  The exact overall proportion of compensation to losses will be determined by the total amount realized from the sale of forfeited property and by the number and nature of the submitted and approved claims.
  • Any investor who is dissatisfied with the claims process and who wishes to pursue a full recovery of their losses against the individuals who ran or profited from the fraudulent investment scheme must do so in the civil courts and at their own cost.

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