Aylmer, Ont. man defrauded of nearly $150K, police say

Coins bearing the Bitcoin logo are pictured in Krakow, Poland in this file photo. (Jakub Porzycki/NurPhoto/Getty Images/CNN)

Police in Aylmer, Ont. says a 60-year-old man is believed to be the victim of a Bitcoin fraud, after investing about $141,000.

The man reportedly set up an account with an investment company called SPX Markets, which claims to trade in cryptocurrencies, stocks and commodities, among other things.

Over the seven months between Jan. 2021 and July 2021, the man reportedly invested in $141,000 in cryptocurrency.

The investor became suspicious when two male suspects continued to pressure the victim to invest more money.

In Dec. 2021, the victim reportedly learned the investment was a scam and he reported the situation to Aylmer police last Tuesday.

Police say the address used for the initial investment has been traced to Europe and the investigation is ongoing.

Anyone with information is asked to call the Aylmer Police Service at 519-773-3146 or Crime Stoppers at 1-800-222-8477.

The public is being reminded that the popularity of Bitcoin has prompted various scams and investors should be cautious. Some precautions can be found here.