A 36-year-old Delta, B.C. man has been charged with laundering the proceeds of crime after police say he helped facilitate an online investment scheme that defrauded a Lethbridge resident of almost $600,000. Investigators allege the funds were moved through cryptocurrency accounts outside Canada, making recovery impossible.
Lethbridge police have charged a British Columbia man with money laundering in connection with an online investment scam that cost a local resident nearly $600,000. According to police, a 59-year-old Lethbridge man contacted authorities in November 2024 to report that he had been deceived after engaging with someone online who promoted supposedly lucrative investment opportunities.
Investigators say the victim made multiple wire transfers between June and August 2024, sending money to individuals associated with the scheme. Police allege the accused converted the funds into cryptocurrency before moving them to an online exchange and ultimately depositing the money into crypto accounts outside Canada. Once the funds were transferred out of the country, they could not be recovered.
Following what police described as a lengthy and complex investigation by their economic crimes unit, a Canada-wide arrest warrant was issued for a 36-year-old man from Delta, B.C. He was taken into custody last week and charged with possession of property over $5,000 and laundering the proceeds of crime.
Police say the accused has since been released and is scheduled to appear in court in Lethbridge on January 20, 2026.
Authorities continue to warn Canadians about the growing number of online investment schemes, many of which involve cryptocurrency transfers that make funds difficult or impossible to trace. Similar cases across the country have involved victims losing substantial amounts of money after engaging with individuals who appear legitimate at first but quickly disappear once larger sums are sent.
