A Calgary man is facing charges after allegedly defrauding multiple individuals out of more than $1.9 million in a real estate scam that spanned nearly four years.Eric Drinkwater, 43, has been charged with one count of fraud over $5,000 following a police investigation into a series of fraudulent real estate investment deals. Authorities say Drinkwater, a licensed realtor with Re/Max Central during the time of the alleged offences, allegedly solicited funds from victims by offering what he claimed were short-term, high-interest real estate opportunities.The investigation began in July 2024, when a victim contacted police to report losing approximately $80,000 over a one-year period after being promised repayment with interest. Despite repeated attempts to recover his money, the victim received only excuses from the realtor and eventually alerted authorities.As the investigation progressed, police identified 15 additional victims who were persuaded to spend thousands of dollars under similar pretenses. According to police, between March 2020 and February 2024, Drinkwater allegedly convinced victims to loan money under the guise of helping clients close real estate deals without affecting their credit or borrowing capacity.Victims were told their funds were secure, with repayment guaranteed through the garnishment of Drinkwater’s commissions if needed. However, investigators determined the investments were fictitious, and that Drinkwater had provided fake supporting documents to legitimize the transactions.Drinkwater is scheduled to appear in court on Wednesday, June 11.Anyone who believes they may be a victim of fraud or has information related to the case is encouraged to contact Calgary police at 403-266-1234. Anonymous tips can also be submitted to Crime Stoppers at 1-800-222-8477, online at www.calgarycrimestoppers.org, or through the P3 Tips app.
A Calgary man is facing charges after allegedly defrauding multiple individuals out of more than $1.9 million in a real estate scam that spanned nearly four years.Eric Drinkwater, 43, has been charged with one count of fraud over $5,000 following a police investigation into a series of fraudulent real estate investment deals. Authorities say Drinkwater, a licensed realtor with Re/Max Central during the time of the alleged offences, allegedly solicited funds from victims by offering what he claimed were short-term, high-interest real estate opportunities.The investigation began in July 2024, when a victim contacted police to report losing approximately $80,000 over a one-year period after being promised repayment with interest. Despite repeated attempts to recover his money, the victim received only excuses from the realtor and eventually alerted authorities.As the investigation progressed, police identified 15 additional victims who were persuaded to spend thousands of dollars under similar pretenses. According to police, between March 2020 and February 2024, Drinkwater allegedly convinced victims to loan money under the guise of helping clients close real estate deals without affecting their credit or borrowing capacity.Victims were told their funds were secure, with repayment guaranteed through the garnishment of Drinkwater’s commissions if needed. However, investigators determined the investments were fictitious, and that Drinkwater had provided fake supporting documents to legitimize the transactions.Drinkwater is scheduled to appear in court on Wednesday, June 11.Anyone who believes they may be a victim of fraud or has information related to the case is encouraged to contact Calgary police at 403-266-1234. Anonymous tips can also be submitted to Crime Stoppers at 1-800-222-8477, online at www.calgarycrimestoppers.org, or through the P3 Tips app.
