The Alberta Securities Commission (ASC) and the Royal Canadian Mounted Police (RCMP) Federal Policing Northwest Region’s Integrated Market Enforcement Team (IMET), through the Joint Serious Offences Team (JSOT), announced that Calgary resident Alexander (Alex) Francis Ongoma has been charged with six Criminal Code offences following a JSOT investigation. The charges comprise two counts of fraud over CAD 5,000 and four counts of uttering a forged document. It is alleged Ongoma misrepresented his financial position and success as a foreign exchange trader to obtain money from investors for purported foreign exchange trading and a property development, and that the funds were not 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; JSOT also acknowledged assistance from the Calgary Police Service and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Ongoma’s first court appearance is scheduled for November 14, 2025 in Calgary.
Financial Transactions and Reports Analysis Centre of Canada 2025-11-03
Alberta Securities Commission and RCMP IMET criminally charge Alexander Francis Ongoma over alleged forex investment fraud
The Alberta Securities Commission and the RCMP's Integrated Market Enforcement Team charged Alexander Francis Ongoma with six Criminal Code offences, including fraud over CAD 5,000 and uttering forged documents. Ongoma allegedly misrepresented his financial success to obtain investor funds for foreign exchange trading and property development, which were not returned. He was released with conditions prohibiting investment solicitation and advisory roles, with assistance acknowledged from the Calgary Police Service and the Financial Transactions and Reports Analysis Centre of Canada.