Five people arrested in alleged cryptocurrency fraud scheme

Supported By:

Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

Five people, including three minors, were arrested Thursday in an apartment in Acton Vale, 90 kilometers east of Montreal, as part of a Sûreté du Québec investigation into an alleged fraud ring that claimed to invest in cryptocurrency.

Five people, including three minors, were arrested Thursday in an apartment in Acton Vale, 90 kilometres east of Montreal, as part of a Sûreté du Québec investigation into an alleged fraud ring that claimed to invest in cryptocurrency.

According to a statement by the SQ, its officers and investigators from an economic crimes squad raided the apartment and found five people inside. The SQ also found weapons, drugs and “items constituting evidence of fraud” in the apartment.

“The investigation shows that suspects were posting ads on social media to reach out to people in financially vulnerable situations,” the SQ stated. “The victims consented to disclose information allowing access to their bank accounts while believing that they could obtain royalties or interest from cryptocurrency investments. The complainants later learned that fraudulent transactions had been made through their accounts.”

The SQ noted 11 complainants from various regions of Quebec have come forward so far the Montreal Gazette reports | Read More