An alleged fraudster who police say deceived victims with promises of making a quick buck through cryptocurrency is appearing in court on Wednesday at the Joliette courthouse. According to the Royal Canadian Mounted Police (RCMP), Patrick Vaillancourt, 44, of Repentigny, Que., is believed to have defrauded at least 185 victims out of more than $3 million over a four-year period. The investigation by the Integrated Market Enforcement Team claims that the accused convinced small investors to put their savings into fake cryptocurrency platforms by promising spectacular returns. Police say they have reason to believe Vaillancourt pocketed most of the money but used a portion to make payments to some investors in order to keep the fraud going. He is expected to face 33 charges of fraud over $5,000. This report by The Canadian Press was first published in French on April 9, 2025.
