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City of Saskatoon says last of $1M taken in fraud scheme released by Ontario court

In August, fraudsters electronically impersonated the chief financial officer of a construction company that had a contract with the City of Saskatoon. File / Global News

The City of Saskatoon says all of the $1 million it lost in an online scam earlier this year has been returned.

City lawyer Christine Bogad said the city had recouped all but $345,000, which was tied up in an Ontario court.

A judge ordered return of the funds last month and, because no one filed an appeal before Monday’s deadline, the money has been released from a trust back to the city.

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In August, fraudsters electronically impersonated the chief financial officer of a construction company that had a contract with the city.

The culprit asked to have a payment sent to a new bank account and the city complied.

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The city hired experts to trace and recover most of the money, but outstanding funds were the subject of a court hearing, because three parties claimed they had also been victims of the scheme.

The city said a judge found none of those parties provided enough evidence for a trial.

“All the money stolen in the fraud scheme is now back in the city’s hands,” Bogad said in a release Tuesday.

“The passing of this deadline brings the case to a close.”

 
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