TL;DR: A Toronto resident lost about C$355,000 in a romance and cryptocurrency investment scam that began in 2021. A roughly three-year investigation by Toronto Police, the OPP, the RCMP and Nigeria's anti-corruption agency led to a suspect's arrest in Nigeria, and Nigerian courts ordered about C$225,000 returned to the victim. It was reported in December 2024.
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What happened
CBC News reported that a Toronto resident lost about C$355,000 in a romance and crypto investment scam that began in 2021 with an online contact the victim believed was genuine. The contact then directed the victim to invest in crypto through a fake trading website.
How some money came back
Investment Executive reported in December 2024 that a roughly three-year investigation involved Toronto Police, the Ontario Provincial Police, the RCMP, the Canadian Anti-Fraud Centre and Nigeria's Economic and Financial Crimes Commission. Nigerian law enforcement arrested a suspect and seized proceeds, and Nigerian courts ordered the return of about C$225,000 to the victim, around 63% of the loss.
Why this matters
Police noted that only a small share of fraud victims report. CBC also cited the Canadian Anti-Fraud Centre's figure of $309 million in reported investment fraud losses in 2023, with more than half tied to crypto schemes. International cases can take years, and recovery is rarely full. See realistic expectations for crypto scam recovery.
Spotting the pattern
A romantic contact who steers you to a trading platform is the classic pattern: read dating and romance scam red flags, romance scam recovery next steps and romance investment (pig butchering) scams. In Canada, report to the Canadian Anti-Fraud Centre and read how to report fraud to the Canadian Anti-Fraud Centre. A shorter Canadian case is the RCMP's US$460,000 Tether recovery.
Frequently Asked Questions
How much did the Toronto victim lose and recover?
About C$355,000 was lost and about C$225,000 was returned, roughly 63%.
Who investigated the case?
Toronto Police, the Ontario Provincial Police, the RCMP, the Canadian Anti-Fraud Centre and Nigeria's Economic and Financial Crimes Commission.
How long did it take?
About three years of investigation.
How did the money get back to the victim?
Nigerian law enforcement arrested a suspect and seized proceeds, and Nigerian courts ordered their return to the victim.
Sources
- CBC News: Toronto fraud victim recovers most of $355K lost in international romance scam
- Investment Executive: Fraud victim gets some restitution (Dec 2024)
- Canadian Anti-Fraud Centre