Calgary Man Accused of $164M Fraud | Calgary News

A Calgary man faces serious fraud and money laundering charges after allegedly swindling $164 million from over 1,000 investors through a fake day-trading scheme run by his company Black Box Management. Police say his success reports were plagiarized, not real, and only a tiny fraction of the funds were ever used for trading—resulting in a $15 million loss. He’s already been sanctioned by Alberta’s securities commission for running a classic Ponzi scheme disguised as a high-stakes trading opportunity. Arrested July 31, he’s set to appear in court this Thursday—and victims are urged to come forward. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4b83e4e700a4e13e