News release
Cryptocurrency investments: Repentigny man charged with fraud
April 9, 2025
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Montréal, Quebec
From: Federal Policing Eastern Region
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RCMP Federal Policing — Eastern Region announces that Patrick Vaillancourt, 44, of Repentigny has been charged in relation to investment fraud. According to the investigation by the Integrated Market Enforcement Team, the individual allegedly defrauded at least 185 victims of more than $3 million over a period of more than four years. He allegedly conned small investors, luring them with the promise of incredible returns and convincing them to invest on fake cryptocurrency platforms. The funds taken from investors were allegedly diverted mainly to Mr. Vaillancourt for personal use and to pay other investors to perpetuate the fraud.
Mr. Vaillancourt is facing 33 counts of fraud exceeding $5,000. He is scheduled to appear at the Joliette courthouse today.
Stay alert
The RCMP is seeing a significant rise in complaints about online investment fraud, primarily scams where victims are encouraged to invest in cryptocurrencies with the promise of quick, significant returns. These offers are usually made through social media ads. Be careful when it comes to investing your savings, especially in investments suggested online. Here are a few tips to help prevent fraud:
- Beware of offers that are too good to be true. There's no such thing as big, quick, risk-free returns!
- Avoid investment offers made on social media or from unsolicited strangers.
- Check that the person contacting you is registered with the Autorité des marchés financiers.
Appeal to the public
Do you have information on the illegal activities of individuals or groups of individuals? Contact the RCMP at 514-939-8300/1-800-771-5401 or your local police department. To report fraud, contact the Canadian Anti-Fraud Centre at 1-888-495-8501. The CAFC's centralized data enables police forces to establish links and identify schemes for similar types of fraud.
Contacts
Communications Office – Federal Policing Eastern Region (Quebec)
cdiv.communications@rcmp-grc.gc.ca
514-939-8308
Federal Policing
@rcmpqc
Quebec RCMP
Quebec RCMP
Quebec RCMP