RCMP Superintendant Eric Mattson says "investors were told their investments were risk free".

RCMP have laid charges in a massive Ponzi scheme. The charges are connected to an Alberta company called HMS Financial.

Police allege one-thousand victims lost a total of 60 million dollars.

Three men and a woman from southern Alberta face fraud and laundering charges.

CTV reported on a class-action lawsuit launched by some investors last year. They say they were promised a high rate of return at no risk, but the company crashed in 2004 when the FBI and RCMP began to investIgate.

 The accused will be in Drumheller court next month.

73 year old Harold Murray Stark of Three Hills, 62 year old Robert Fyn of Linden, 57 year old Garth Bailey of Okotoks and 53 year old Katherine Bailey face a variety of charges.