North Bay resident loses $250K to investment scam

A North Bay resident lost $250,000 to fraud. Provincial police warn of a surge in sophisticated scams, including crypto, gift card, and romance schemes.

The North Bay Ontario Provincial Police (OPP) is urging residents to remain vigilant following a recent surge in fraud-related reports, including one in which a local resident lost $250,000.

“In the past several weeks, officers have responded to multiple incidents involving cryptocurrency scams, online marketplace frauds, romance scams and gift card schemes,” the OPP said in a news release Wednesday.

Police said a North Bay resident lost $250,000 to an investment scam.

“This fraud was reported on Oct. 28,” acting Sgt. Kyler Brouwer said in an email to CTV News.

Investment fraud

“It was an investment fraud with multiple deposits being made into a fraudulent account (and) website starting in July of 2025.”

Such cases show how “increasingly sophisticated and emotionally manipulative” the scams have become, police said.

“Victims have been targeted through social media, email, messaging apps and fraudulent websites.”

There are common tactics fraudsters use, including offering a fake investment opportunity with “high returns but restricting withdrawals due to ‘taxes’ or ‘fees,’” police said.

“Romance scams where fraudsters build emotional connections and then request money for emergencies or promises of future wealth.”

Common tactics

Online marketplace scams are also common, involving deposits for pets, trailers or services that are never delivered. Gift and prepaid card frauds are another example, “often involving impersonation of legitimate businesses or individuals,” police said.

“Phishing links that trick users into revealing banking information, leading to unauthorized transfers.”

Residents should always be skeptical of unsolicited investment offers, especially ones involving cryptocurrency or foreign accounts.

Never send money or gift card codes to strangers, and verify online sellers and service providers before sending deposits — use trusted platforms and check reviews.

“Avoid clicking on suspicious links or providing banking information unless you are certain of the source,” police said.

“Talk to someone you trust before making financial decisions based on online interactions.”

Report any suspected fraud to the OPP at 1-888-310-1122 and the Canadian Anti-Fraud Centre.

“Fraud can affect anyone,” police said.

“Talking openly with friends and family about scams is one of the best ways to prevent them.”