Former life insurance and accident and sickness insurance agent accused of $50,000 fraud.
Rob Mangat Arrested in Vancouver
Ravinderpaul Singh Mangat (a.k.a. Rob Mangat) was a registered mutual funds salesman at Sun Life in Metrotown. In 2010, he lured a Vancouver resident into investing in a “privileged investment group” that he claimed would yield high returns.
Mangat did not invest his client’s money into any investment group. Instead, he spent the money on paying off his own personal debts. Mangat then used $50,000 from his client’s insurance policy. Loans were issued via cheque and were deposited into Mangat’s bank account. The victim was unaware that Mangat has been using his policy. Mangat issued false insurance records to his victim, to cover up his fraudulent activity. In 2017, he was arrested on two counts of fraud over $5,000.