A Calgary resident is facing charges from the RCMP for allegedly diverting over $164 million from more than 1,000 investors. Craig Michael Thompson, 49, is accused of engaging in a large-scale Ponzi scheme through his company, Black Box Management, between March 2020 and April 2024.
Thompson was apprehended by the RCMP’s Federal Policing Northwest Region’s Integrated Market Enforcement Team on July 31. He has been charged with fraud and laundering proceeds of crime. The police assert that Thompson, posing as a sole proprietor of an investment firm, received funds from Black Box investors under the pretense of using the money for day trading. He would then provide investors with weekly email updates on their account performance and growth.
Upon investigation, authorities discovered that the information in the email updates was allegedly plagiarized from online sources. Out of the total incoming funds of $164 million, Thompson purportedly transferred over $163 million to external accounts, including his personal trading account and an investment in a U.S.-based company.
The police probe also connects Thompson to multiple other invoice businesses, namely Intelsense Investment Corp., Invader Management Ltd., and Attebyte Investment Corp. When CBC News reached out to Thompson’s lawyer for comments, they declined to provide any response on the allegations.
Thompson is set to appear at the Alberta Court of Justice in Calgary on September 3. Previously, the Alberta Securities Commission found Thompson guilty of securities fraud last summer and imposed $8.8 million in penalties and costs for an alleged Ponzi scheme. Notably, Thompson has not yet been convicted in criminal court.
Authorities are urging individuals who suspect they may have fallen victim to fraud related to this case to come forward and contact the police for assistance.
