The Alberta Securities Commission (ASC) and the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team (IMET) announced that Alexander (Alex) Francis Ongoma of Calgary has been charged with six Criminal Code offences following an investigation by the Joint Serious Offences Team (JSOT). The charges comprise two counts of fraud over CAD 5,000 and four counts of uttering a forged document. Investigators allege Ongoma misrepresented his financial position and success as a foreign exchange trader to obtain money from investors, stating he would invest on their behalf in the foreign exchange market and in a property development, and that the funds were never returned. Ongoma was released on conditions, including prohibitions on soliciting investments, acting as a director or officer of any issuer, registrant or investment fund, and providing advice in respect of securities or exchange contracts. Ongoma’s first court appearance is scheduled for 9 a.m. on November 14, 2025 at the Alberta Court of Justice in Calgary. The release notes JSOT is an enforcement partnership between the ASC and IMET that investigates and prosecutes quasi-criminal cases under the Securities Act (Alberta) and certain securities-related Criminal Code offences.
Alberta Securities Commission 2025-11-03
Alberta Securities Commission and RCMP IMET announce Criminal Code charges against Calgary forex trader over alleged investor fraud and forged documents
The Alberta Securities Commission and the RCMP's Integrated Market Enforcement Team have charged Alexander Francis Ongoma with six Criminal Code offences, including fraud and forgery, after a Joint Serious Offences Team investigation. Ongoma allegedly misrepresented his financial success to solicit investments, which were not returned, and faces conditions prohibiting investment solicitation and securities advice. His court appearance is set for November 14, 2025, in Calgary.