December 5, 2025
RED FM News Desk
Peel Regional Police have warned against fraudulent online cryptocurrency investment opportunities and have made an arrest in connection with such investment scam. The Peel Regional Police Fraud Bureau has charged a suspect in connection with a cryptocurrency investment scam involving over $1.6 million.
The police stated that in 2023, two victims were allegedly defrauded, when both victims were lured into this fraudulent investment scheme through communication over social media. Victims believed that they were investing in a legitimate international cryptocurrency opportunity. Both victims had invested significant amounts of money and were given access to online platforms that showed their initial investments had grown substantially. Later, it was discovered that the platforms including the investment returns were fictitious. The victims lost approximately $1.6 million in this scam.
As part of the investigation, Peel police, with the assistance of the Ottawa Police Service, executed a search warrant in an area of Ottawa on November 27, 2025, and arrested a 31-year-old man from Stittsville named Hanad Adam. Investigators have charged him with fraud over $5,000 and possession of property obtained by crime.
Investigators are warning the community about ongoing and increasingly sophisticated scams involving online cryptocurrency investment schemes. They encourage residents to keep the following tips in mind:
- Be wary of unexpected messages or social media ads promoting crypto investments, especially those claiming endorsements from celebrities or public personalities.
- Remember that fraudulent crypto trading websites can look nearly identical to legitimate platforms, making them hard to spot.
- Treat any offer promising unusually high or guaranteed returns with caution.
- Confirm the identity, reputation, and credentials of anyone providing investment advice or services.
Authorities are asking anyone who suspects they may have been defrauded in this scheme to reach out to the Fraud Bureau at (905) 453-3311, ext. 3335.
For guidance on avoiding fraud and additional resources, visit the Canadian Anti-Fraud Centre.
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