Event Brief
Calgary man charged in $164M Ponzi scheme
By The BriefBrief · Sources (1)
Filed: Sep 01, 2026 at 8:17 PM ET
Summary: RCMP say a 49-year-old man was arrested on July 31 and charged with two counts of fraud and money laundering tied to an alleged $164-million Ponzi scheme. Police allege the accused, through Black Box Management, took funds from more than 1,000 investors between March 2020 and April 2024 for day trading.
WHO: RCMP; a 49-year-old man; Black Box Management
WHAT: A 49-year-old man was charged with fraud and money laundering over an alleged $164-million Ponzi scheme involving more than 1,000 victims.
WHEN: Jul 31, 2026
WHERE: Calgary, Alberta, Canada
WHY: The charges stem from alleged fraud and money laundering involving investor funds taken for day trading.
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