Descrease article font size
Increase article font size
Lethbridge, Alta., police have charged a man from Delta, B.C. with money laundering after a 59-year-old man claimed he was defrauded of nearly $600,000 in an online investment scam.
The Lethbridge man contacted police on Nov. 30, 2024, and reported he had been scammed out of the money after speaking with someone online about investment opportunities.
The victim reported making multiple wire transfers between June and August of 2024.
The accused is alleged to have then converted the money into cryptocurrency, transferred the funds to an online exchange and then deposited the money into cryptocurrency accounts outside of Canada where they were unable to be recovered.
Get daily National news
Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.
Police said that following a lengthy and complex investigation by the force’s economic crimes unit, a Canada-wide warrant was issued for a 36-year-old man from Delta, B.C.
Story continues below advertisement
He was arrested last week and charged with possession of property over $5,000 and laundering the proceeds of crime.
He has since been released from custody and is scheduled to appear in court in Lethbridge on Jan. 20, 2026.
3:00
Consumer Matters: Tips to avoid crypto currency investment fraud
© 2025 Global News, a division of Corus Entertainment Inc.
