Comox Valley Resident Accused of $4.6M Crypto Fraud

A former Comox Valley resident has been accused of committing $4.6 million in cryptocurrency fraud by the BC Securities Commission (BCSC). Connor Sinclair Gardiner-Ingram allegedly convinced dozens to invest in his cryptocurrency trading bot, called Alpha Alliance, promising they would receive profits after a specific time period.

Gardiner-Ingram claimed Alpha Alliance was registered in Canada, but the BCSC found no corporate entity with that name exists in any jurisdiction. He worked alongside an individual identified as 'R' from Australia, who he would transfer payments to, telling investors R would put the funds toward the trading bots.

Instead, Gardiner-Ingram used the money for personal expenses, including luxury goods, jewelry, vehicles, and unrelated travel. The BCSC also alleges that while Gardiner-Ingram made some payments to investors to convey they would receive profits, he told others he was either selling Alpha Alliance or his funds had been frozen by the BCSC.

Gardiner-Ingram has the opportunity to make a statement and submit evidence before the commission at a hearing scheduled for September 15. The allegations have not been proven, but if found guilty, Gardiner-Ingram could face severe penalties.