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“His claim that he remains abroad merely to ‘work toward recovering investor funds’ rings hollow.”
Published Nov 07, 2025 • Last updated 7 minutes ago • 3 minute read
Ryan Rumble, right, of Chatham, is seen with an unidentified person in this photo, dated Oct. 7, posted to the Trump International Golf Club Dubai Facebook page. Rumble, one of three former directors of Chatham-Kent’s Banknote Capital charged with fraud over $5,000 by the Ontario Securities Commission in April, is wanted on a Canada-wide warrant. (Facebook) jpg, CD, apsmcArticle content
Seeing accused fraudster Ryan Rumble, a former director of Chatham-Kent-based Banknote Capital, enjoying an outing at a Donald Trump-owned golf course in Dubai is not sitting well with Emily Hime and Brock Tedford, who allege they lost money invested with him.
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Rumble can be seen in photos on the Trump International Golf Club Dubai Facebook page, dated Oct. 7, taking part in the “6th annual Staff vs Members” event. Rumble is listed as a member among event winners.
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“It’s deeply disheartening to see that he (Rumble) continues to live a lavish lifestyle, frequenting golf courses and enjoying luxuries,” Hime said in a statement.
“His claim that he remains abroad merely to ‘work toward recovering investor funds’ rings hollow,” she added.
“It’s disheartening that someone can (allegedly) do this still (and) just live such a lavish life,” and have his photo posted on a luxury golf club’s social media page, added Tedford.
Rumble and two fellow former Banknote directors, Michael Dziedzic and Justin Foss, all of Chatham, were charged by the Ontario Securities Commission in April with fraud over $5,000 for their roles in the company. The matter remains before the court.
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The commission alleges that between November 2020 and August 2023, the accused “raised more than $11 million from investors by promising high rates of return and guaranteed principal,” and that “funds collected from new investors were used to repay existing investors and funds were diverted for the personal benefit of Mr. Rumble.”
Dziedzic and Foss surrendered to authorities before the OSC announced the charges in April. But Rumble, who’s also charged with uttering a forged document and is the subject of a Canada-wide arrest warrant, has been living in Dubai for about two years.
During a Dec. 14, 2024 court proceeding, reported by the Daily News, Rumble took part in a video call from Dubai. He told the judge: “I want to make this right with the clients and get these clients paid back their initial investment.”
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Rumble added that Dubai is the only place he is able to get work to get it done.
The three men also are named as defendants in a $5-million civil lawsuit, brought by Emily Hime, that resulted in a judge freezing Banknote’s assets in May 2023. The case remains before the courts and court records show Dziedzic has filed a statement of defence, but Rumble and Foss have not.
Statements of claim and defence contain details that have not been tested in court.
Hime alleged in her motion to the court that some of Banknote’s investors losses were linked to a high-profile litigation case and bankruptcy involving self-styled “crypto king” Aiden Pleterski.
It was alleged Pleterski received $41.5 million from investors, only investing 1.6 per cent of the funds, spending nearly $16 million on exotic vehicles, private jet rentals and other luxuries. The trustee report said about $431,000 had been recovered from his bank accounts.
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In a sworn affidavit from July 2022, related to a motion for an injunction against Pleterski and his company, AP Private Equity, Rumble said Banknote had invested about $3.9 million with Pleterski between September 2021 and March 2022.
Rumble’s affidavit included a series of one-page, standard-form contracts stipulating Banknote and Pleterski would split investment gains 70-30 and guaranteeing the principal would be repaid in instalments of 25 per cent every two weeks if the investment was lost.
Pleterski is not a defendant in Hime’s civil suit.
Contacted about Rumble’s golf photo, the Ontario Securities Commission said by email that it wouldn’t be appropriate to comment because the matter is before the courts.
“I have no insider knowledge of the ongoing criminal investigation, but I believe in accountability – and in karma,” Hime said. “In time, I trust justice will prevail.”
eshreve@postmedia.com
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