Fernando Honorate de Silva Fagundes and his wife Emilia Alas-As Elansin have been charged with fraud, theft and laundering the proceeds of crime. (RCMP)
CALGARY, Alta., — Two fugitives wanted in connection with a nearly $5 million financial crime investigation in Alberta were arrested in Ontario last month and have been returned to Calgary to face charges.
The 44-year-old and 70-year-old suspects, who had been the subject of Canada-wide warrants since November 2021, were taken into custody on May 26, by Ontario Provincial Police officers responding to an unrelated call in Algonquin Highlands. Both were arrested without incident, remanded into custody, and transported back to Alberta, where they now await court appearances in June.
The warrants originated from an investigation by the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team in Calgary.
Between January 2019 and December 2020, the accused are alleged to have misappropriated investor funds through an Alberta-based day trading company, defrauding victims of roughly $5 million. Each individual has been charged with laundering proceeds of crime over $5,000, fraud over $5,000, and theft, all under the Criminal Code.
The 70-year-old accused is scheduled to appear before the Alberta Court of Justice in Calgary on June 22, while the 44-year-old is set to appear on June 24. The arrests followed years of investigative work after the evidence of the offences had already been secured.
“IMET is committed to conducting thorough and complex investigations against those who choose to victimize Canadians through the abuse of Canada’s capital markets system,” said Supt. Stephen Reid, Officer in Charge of the NWR Financial Integrity and Cybercrime unit. “In this case, the investigation continued years after the evidence of offences had been secured. The dedication and investigative work of all those involved were instrumental in locating the accused and ensuring they are returned to face the charges before the courts.”
The RCMP acknowledged the support of the Ontario Provincial Police, Ontario’s Ministry of the Attorney General, the Alberta Crown Prosecution Service’s Appeals and Specialized Prosecutions branch, and the Alberta Sheriffs in advancing the case. Authorities encourage anyone who has experienced fraud or cybercrime to report it to their local police or to the Canadian Anti-Fraud Centre online or by phone at 1-888-495-8501.
