The RCMP Federal Policing's Integrated Market Enforcement Team (IMET) has charged five individuals for money laundering and theft for their role in a sophisticated brand hijacking scheme.
In December 2021, IMET began investigating allegations of fraud via the use of an imposter website imitating a legitimate investment firm after receiving a referral from the Alberta Securities Commission. The website, which listed contact information for fraudulent representatives, attracted numerous investors seeking high interest investment opportunities via online search engines. Investors were convinced to send their investment funds to various accounts at several institutions across Canada before ultimately being moved to destination accounts. The funds were subsequently dispersed through transactions not related to the intended investments.
In February and March 2023, IMET arrested and charged the following:
- A 52-year-old individual, a resident of Calgary;
- A-56 year-old individual, a resident of Surrey, B.C.;
- A 57-year-old individual, a resident of North York, Ont.;
- A 53-year-old individual, a resident of Mississauga, Ont.; and,
- A 36-year-old individual, a resident of Whitby, Ont..
All five accused have been charged with the following:
- Fraud Over $5,000 contrary to section 380(1)(a) of the Criminal Code;
- Theft Over $5,000 contrary to section 334(a) of the Criminal Code;
- Possession of Proceeds of Crime Over $5,000 contrary to section 355(a) of the Criminal Code; and,
- Laundering Proceeds of Crime contrary to section 462.31(1)(a) of the Criminal Code.
The 57-year-old, 53-year-old and 36-year-old individauls appeared in Calgary Provincial Court on March 6, 2023. The 52-year-old individual appeared in Calgary Provincial Court on March 9, 2023. The 56-year-old individual is scheduled to appear in Calgary Provincial Court on April 13, 2023.
"I cannot overstate the importance of being cautious when seeking out investment opportunities of any kind. This investigation revealed a nefarious and elaborate interprovincial scheme that preyed upon Canadians and their hard-earned money. With the support of various police and partner agencies, we were able to bring these individuals to justice and stop others from being targeted. If you believe you are a victim of fraud, please report it to your local law enforcement and to the Canadian Anti-Fraud Centre online or by calling 1-888-495-8501."
- Inspector Stephen Reid, Operations Officer for Calgary IMET
IMET would like to thank the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the Canadian Anti-Fraud Centre and Durham Regional Police for their support throughout this investigation.
IMET is a specialized unit under the RCMP Federal Policing program that detects, investigates, and deters market fraud. IMET works closely with the Alberta Securities Commission to protect investors and further enhance confidence in the Canada's capital markets.