Police said the victim of a cryptocurrency fraud complaint has had more than half of the stolen funds returned.
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The initial complaint was filed in the fall of 2021 and over three years, Toronto Police worked with the OPP, the Canadian Anti-Fraud Centre, the RCMP and Nigeria’s Economic and Financial Crimes Commission to get $225,000 worth of the funds returned as of this month.
The victim began communicating with someone named Moshe Theodor McNigh on Facebook in June 2021, who allegedly encouraged the GTA-based victim to invest in bitcoin through the website Legacyfxtraders.online.
In the fall of 2021, Nigerian law enforcement officials confirmed to the victim that they had been defrauded in a cryptocurrency investment scheme, losing an estimated $355,000.
Nigeria’s Economic and Financial Crimes Commission arrested and charged Omonkhoa Precious Afure and the proceeds of crime were subsequently seized by Nigerian officials. Nigerian courts determined the proceeds to be the victim’s assets and ordered them to be restituted to the victim.
According to the Canadian Anti-Fraud Centre, victims in 2023 reported losing more than $52.5 million to romance frauds and over $309 million to investment frauds. It is estimated that only 5% to 10% of victims report being targeted by fraudsters.
Victims wishing to report fraudulent behaviour to Nigerian authorities can do so via the Eagle Eye reporting application from anywhere around the world to assist in combating cyber-enabled frauds.
If you have been a victim of fraud or suspect fraudulent activity, you can also immediately report it to police and the Canadian Anti-Fraud Centre at 1-888-495-8501 or online via their fraud reporting system.
Anyone with information about this investigation is asked to contact police at 416-808-2222 or Crime Stoppers anonymously at 416-222-TIPS (8477) or 222tips.com.