A Canadian television station may be facing a lawsuit for airing a programme linking Arnold Forbes to an alleged $170 million investment “fraud”
The CTV news programme indicated that Forbes, an attorney with hopes of political endeavors, was a director in GFS Limited – an international business company accused of squandering client investments.
It was reported on the news show that GFS was run by two Quebec residents, Jean-Pierre Tremblay and Stephane Hardy, along with Mr Forbes.
According to CTV, Canadian businessman Nick Djokick invested $6 million into GFS and was promised 20 per cent annual interest, but when he tried to cash out his investment the money was not there.
Mr Forbes told the CTV reporter that he only incorporated and registered GFS, a task he said his firm did for about “500 to 600 companies” at the time adding that he was paid between “$1,900 to $5,000” for his work.