Calgary police have cracked down on one of the province's most significant investment fraud cases, charging a local man with defrauding more than 1,000 investors of approximately $164 million through an elaborate Ponzi scheme spanning over four years.
The RCMP Federal Policing Northwest Region's Integrated Market Enforcement Team announced Tuesday that Craig Michael Thompson, 49, faces multiple counts of fraud and money laundering in connection with the scheme, which operated between March 2020 and April 2024.
The investigation reveals a carefully orchestrated deception. Thompson allegedly operated as a one-man investment firm, soliciting funds from Black Box investors under the premise that money would be used for day trading activities. To maintain the illusion of legitimacy, he sent victims weekly email updates detailing account performance and purported investment gains.
How the Scheme Unravelled
Mounties discovered Thompson plagiarized investment information from online sources to provide to his victims. More critically, investigators found that he diverted more than $163 million to external accounts outside investor control, including personal trading accounts held at U.S.-based financial firms.
The case also uncovered connections to multiple related businesses allegedly used to facilitate the fraud, including Intelsense Investment Corp., Invader Management Ltd., and Attebyte Investment Corp.
"While representing himself as a one-man investment firm, the accused received funds from Black Box investors on the understanding that he would use the money for day trading," the RCMP said in a statement.
This is a significant development in Alberta's financial crime enforcement. The case underscores the importance of verifying investment credentials and researching firms before committing funds.
Prior Regulatory Action
Thompson was not a newcomer to regulatory scrutiny. In 2025, the Alberta Securities Commission (ASC) sanctioned him for running a related $150 million scheme and levied an $8.8 million penalty for infractions and associated costs. Tuesday's RCMP charges represent a criminal escalation of the investigation into his conduct.
Thompson is scheduled to appear in Calgary court on Thursday. The charges carry potential sentences of up to 14 years imprisonment if he is convicted on the most serious counts.
The RCMP urges investors who believe they may have been victimized to contact local law enforcement or the Alberta Securities Commission.
This article is based on reporting from the Calgary Herald.