Waterloo Regional Police updated the public today, June 16, 2026, about a large-scale fraud investigation involving $48 million. The media conference will take place at 11:45 a.m. at police headquarters at 200 Maple Grove Road in Cambridge, the service announced.
The multi-year investigation is one of the biggest financial crime cases the region has seen in recent memory. It comes as fraud losses across Canada hit record levels. According to the Canadian Anti-Fraud Centre, Canadians reported losing over $704 million to fraud in 2025 alone, with total reported losses surpassing $2.4 billion since 2022.
Locally, the Waterloo Regional Police Service has been grappling with a wave of sophisticated scams. Since April 20, 2026, more than 10 victims in the region have lost a combined $100,000 in a so-called bank investigator scam, where fraudsters pose as bank officials to trick people into handing over money.
Details about the $48 million investigation—including the number of victims, any arrests, and how the alleged fraud was carried out—are expected to be shared at the June 16 briefing. Chief Mark Crowell, who became the service’s seventh chief in November 2022, and other officials will be on hand to address the media and the community.
The case echoes other major frauds in Ontario, such as a Ponzi scheme that drew in more than 500 investors and between $40 million and $48 million, resulting in a seven-year prison sentence. That investigation was handled by the Ontario Serious Fraud Office, which often works with local police on complex financial crimes.
Residents seeking more information can contact WRPS Public Information Officers Constable Brad Hickey, Constable Chris Iden, or Constable Melissa Quarrie at 519-570-9777 ext. 8188 or [email protected].
