Philip Chancey is once more dealing with prices of fraud associated to investments in a proposed car enterprise that did not get off the bottom.
Chancey — who has been the topic of fraud complaints courting again to no less than 2008 — had his case referred to as for a primary look in provincial court docket Tuesday. There are prices of fraud over $5,000 associated to 4 victims, two of whom are actually useless.
Sources with data of the investigation say Clarenville man Tom Drodge invested $300,000 with Chancey in 2015 for an electrical car dealership. A lot of the cash was his personal, however Drodge additionally borrowed cash from his aged mom, his spouse and his sister to place collectively the money for the deal.
Drodge died in October 2020. His mom died in 2018.
When contacted by CBC Information on Wednesday, Drodge’s spouse Dulcie mentioned Chancey knew her husband was sick and used that to his benefit.
She declined an interview however mentioned the quantity her husband invested was round $300,000 — their complete life financial savings. She mentioned the deal additionally concerned autos seized on the Canada-U.S. border, however no dealership materialized and no vehicles had been delivered.
“I would like him to be punished,” she mentioned of Chancey.
CBC Information reached Chancey by telephone on Wednesday.
“I’ve no remark,” he mentioned earlier than telling the reporter that his lawyer will likely be dealing with the case. When requested who his lawyer was, he paused for a second and hung up.
Related allegations to a different case
Chancey was already dealing with a single rely of fraud over $5,000 earlier than the Drodge prices had been laid.
It is alleged Chancey defrauded Jerome Groves in 2016, additionally with guarantees of opening an electrical car dealership. Groves estimates he misplaced $50,000 all through the course of his dealings with Chancey and mentioned the monetary stress led to a coronary heart assault in late 2016.
Groves informed his story to CBC Information in 2019. It took greater than two years for the police to put a cost. Chancey is ready to go to trial in April on the Supreme Courtroom of Newfoundland and Labrador in St. John’s.
One other particular person lodged a grievance with police a few related enterprise cope with Chancey in 2008, through which greater than $100,000 modified arms with an organization referred to as Purchase the Time EV Leases. No prices have been laid thus far, and Chancey has beforehand denied wrongdoing in that case.
Huge offers, large lawsuits
Chancey has been the topic of a number of huge lawsuits, with no less than three firms in search of to recoup large sums of cash from offers they allege had been fraudulent.
American heavy gear auctioneers Lyons & Sons sued Chancey in 2016 over a $600,000 deal through which Chancey was supposed to provide seized gear for public sale. They had been in a position to get his belongings frozen, and he returned the cash.
Courtroom information present that two days earlier than the wire switch, Chancey acquired $1 million from leasing large Cox Automotive Canada. That deal additionally ended up in court docket, with allegations Chancey had stashed the cash in an Icelandic checking account. The case continues to be earlier than the courts.
Hickman Motors — titans within the Newfoundland auto sector for generations — sued Chancey in 2019, claiming he swindled $400,000 from them on offers for vehicles seized on the American border. They are saying no vehicles had been ever delivered. That lawsuit can be nonetheless earlier than the courts.
Courtroom information additionally present Chancey has been taken to small claims court docket no less than a dozen instances, for quantities between $375 and $7,752.
Public information present Chancey has integrated no less than eight companies in Newfoundland and Labrador and Nova Scotia going again to the Nineteen Eighties. The newest one on document is Twenty Twenty Capital Company, integrated in August 2020 with a put up workplace field at Churchill Sq. in St. John’s. It is now not listed in good standing with the provincial authorities.
In a letter to CBC Information in 2019, Chancey mentioned he was only a businessman who has had laborious luck.
“I’ve over time tried to work and set up varied enterprise alternatives. Sure, some failed, I admit this,” he wrote in a letter. “All through the nation, quite a few individuals have tried and failed. I’m considered one of them. The secret is to by no means hand over.”
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