Charges against one of two Calgary men accused in a multimillion-dollar investment fraud were stayed Tuesday, just days before his fourth scheduled trial was set to begin.Josef Korec, accused in a multi-million dollar fraud, had his charges stayed in a Calgary court Tuesday due to an 'unreasonable' delay in getting the case to trial.
On Tuesday morning, Justice Catherine Skene issued a judicial stay based on unreasonable delay in getting the case to trial.The Supreme Court says cases in provincial court must be wrapped up within 18 months. In this case, by the time the trial was scheduled to end, it would be four years from the time Korec was charged.
Okotoks brokering firm Taurus Capital and a Calgary investment company, RAEU Global, agreed to fund the project but asked the victim to put up $3.1 million as a down payment, according to police.The victim raised the money by securing funding from several of his own investors.Investigators determined the money was transferred to bank accounts belonging to RAEU associates, including several accounts in the Czech Republic, Lethbridge police said in a release in July 2020.
In an email exchange three months before the trial, Korec told the Crown he consented to it being rescheduled. Korec replied: "Yes, it is OK. Yes, I am confirming it. Once the time frame set, please let me know as new time was given."