Calgary Man Accused of Running $164M Ponzi Scam Targeting More Than 1,000 Victims
A Calgary man is facing charges in connection with an alleged $164 million Ponzi scheme that defrauded more than 1,000 people over a four-year span. The Alberta RCMP has accused the suspect of diverting funds through his company, Black Box Management, as part of a large-scale investment fraud. The suspect is alleged to have operated […]
TL;DR
- A Calgary man is charged in connection with an alleged $164 million Ponzi scheme.
- Over 1,000 people were allegedly defrauded over a four-year period (March 2020 - April 2024).
- The suspect allegedly diverted funds through his company, Black Box Management.
- Investors were told their capital would be used for day trading.
- Weekly email updates on account performance were reportedly provided to investors.