It’s a multi-million dollar fraud, but it may not be a crime

Canada’s securities regulators argue there are good reasons to avoid criminal prosecutions. Not everyone agrees

26 May 2026 • 8 min read

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An inmate wearing a prison uniform sits behind bars with his head in his hands, below red text reading 'SCAMMER.'

When Canada's securities regulators get a complaint alleging fraud, they have to decide if the perpetrator should face the possibility of jail time through a criminal investigation. (The IJF/Canva)

Bethany Lindsay

Bethany Lindsay is an award-winning investigative journalist who covers white-collar crime. She is based in Vancouver and previously reported for CBC News, the Vancouver Sun, and the Cambodia Daily.

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