A Huntsville couple lost $680,000 after putting money into fraudulent guaranteed investment certificates.
Provincial Const. Lindsey Turner says after police started an investigation in Nov. 2023, they learned the account the money was deposited in was not associated with the Ottawa-based Alterna Bank and the representatives the couple spoke with used aliases and kept the money for themselves.
They were able to locate the would-be fraudsters and charged a 38-year-old and 39-year-old, both from Severn Bridge, with possession of property obtained by crime over $5,000.
The pair have a court date scheduled for March in Bracebridge.
Turner says verification is the best way to defend yourself against potential fraud. She explains you should verify everything you’re told, including email and physical addresses, websites, and whether the investment company is registered federally or provincially.
“If you receive a suspicious or odd investment-related message from a trusted friend, reach out to them through a different means of communication to confirm that it is them,” she continues.
Turner says if you think you or someone you know was the victim of a fraud, call the Canadian Anti-Fraud Centre at 1-888-495-8501 or report online.
