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www.oakvillebeaver.com The Oakville Beaver, Friday June 22, 2007 - 7 SPECIAL TO THE BEAVER More legal hot water for young entrepreneur never took the company public and allegedly reneged on his promise to buy back the shares at twice the price the investors had paid for them. Investors eventually lost patience and launched half a dozen civil suits in an effort to get their money back. They alleged he used the money to subsidize his highrolling lifestyle, which involved foreign travel, expensive toys such as a $120,000-motor boat and hobnobbing with the autoracing set. By late 2006, the civil courts had frozen his assets, including the boat. But had disappeared and investors feared he was hiding in Costa Rica, where he reputedly owned a home. In January, however, he surrendered to Toronto police after a warrant for his arrest on fraud charges was issued. He spent a couple days in custody before his parents bailed him out. As part of his bail conditions, he was ordered to live with his parents in their $1.7 million Oakville home, surrender his passport and remain in Canada. He was also prohibited from engaging in business transactions. -- Torstar News Service An Oakville computer whiz kid is accused of scamming a Texas businessman out of $1.5 million -- while he was on bail awaiting trial in an $8-million investment scheme. The case is also being investigated by American police, who have been comparing notes with their Canadian counterparts. a motivational speaker who owned a high-tech computer company, was charged with breach of probation, three counts of forgery and fraud over $5,000 after he surrendered to Toronto police last week. Houston businessman David Ditch, chief executive of Global Cement, told police had contacted him by telephone this spring when he was negotiating the purchase of 200,000 metric tonnes of cement for $1.5 million from the World Commodities Group Delaware Inc. Ditch says told him he was an associate of the company and would arrange for the payment to be put in an escrow account at a Bank of Montreal in Toronto. In an interview, Ditch said he received two documents from the bank, which police allege are forgeries, confirming the money was in escrow and wouldn't be released until he got the cement. It's alleged documents had been cut and pasted and bore the signature of an official, who was no longer with the bank. In a lawsuit filed in Ontario Superior Court, Ditch alleges that and co-defendant Jack Broderick, an official with the Delaware company, used the $1.5 million to buy a trucking company. He never got the cement. Allegations made in a statement of claim must be proved in court. Ditch said he has contacted Canadian and American authorities. He added the U.S. Secret Service, which protects the president and investigates currency-related crimes, is considering wire-fraud charges. Detective Jeff Thomson, of the Toronto fraud squad, confirmed the Secret Service has contacted him. At the time of his arrest, was out on $500,000 bail in relation to charges that he scammed about 100 investors of $8.4 million dollars in connection with a fledgling information technology company, Emexis Integrated Solutions. He ran the company out of an office complex in the Toronto entertainment district and persuaded friends, relatives and acquaintances to buy shares in the venture with the expectation the company would go public. Despite his relative youth, he had been a motivational speaker and exuded the poise and confidence of a seasoned entrepreneur. SERVICE EXCELLENCE DODGE RAM 1500 QUAD CAB AWARD WINNER ONTARIO'S #1 RANKED CHRYSLER DEALERSHIP JEEP PATRIOT HELD OVER! DODGE CALIBER DODGE GRAND CARAVAN DODGE CHARGER DODGE NITRO JEEP COMPASS CHRYSLER SEBRING CONVERTIBLE DORVAL DRIVE THE LOCKWOOD REWARDS CARD INCLUDED WITH EVERY PURCHASE WYECROFT RD. 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