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After years of battling side by side on the ice, he had their trust. So when Marc Brunet offered to bring friends in on a big investment opportunity, they lined up with cash in hand, they say.

But now, years later, with their teammate facing charges after a joint investigation by the Ontario Securities Commission (OSC), the RCMP and the OPP, those same friends say they wish they’d looked into the investment offer a little more carefully.

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Brunet and his wife, Helene, have been charged with fraud after they allegedly sold more than $800,000 worth of shares in their company, MultiCast Networks Holdings Inc. (MCN) to private investors. The OSC alleges “a significant percentage of the money obtained was used by the Brunets for their personal benefit.”

MCN has been billed as an online streaming service for live events, including sports. The business has offered impressive financial projections, and cited an advisory board that was said to include prominent figures, including Montreal Canadiens great Yvan Cournoyer.