Alberta investigation reveals illegal lending and harassment

An investigation by Alberta’s Consumer Investigations Unit (CIU) has resulted in several guilty pleas from Quebec-based lenders for using illegal interest rates and harassment tactics to target borrowers.

Investigators found that the companies marketed themselves as legitimate lenders but employed intimidation and illegal interest rates to collect debts. The CIU reported the use of sophisticated telecommunications attacks, including phone-blocking tactics that impacted not only the borrowers but also their families, workplaces, hospitals, schools, and seniors’ homes.

Between April and June 2026, several individuals and entities entered guilty pleas. Gerardo Dominique Nicolo was fined $5,000 for providing loans at criminal interest rates, while his companies, Groupe Buddy Inc. and True Loans Inc., were fined $25,000 for harassing communications. Other entities, including Groupe Speedy Inc., Groupe C2G Inc., and Marc Travieso-Culurides, also faced fines and peace bonds for operating without proper licenses and engaging in harassment.