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Fraud scheme funds recovery update

For immediate release: September 30, 2019 - 11:55am
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The City of Saskatoon has recovered roughly $400 thousand in funds that in August were directed to a fraudster’s bank account through a fraud scheme. 

City Manager Jeff Jorgenson says the City continues to actively work with law enforcement,  banks, and its legal team to recover the remainder of the stolen money.

“There is an important court hearing taking place this week in Toronto,” Jorgenson says.  “It’s expected there will be further movement on the return of more funds following that hearing. For now, the funds still remain frozen in various bank accounts.”

Jorgenson adds the internal investigation has been completed. An update report will be provided to City Council and the public in October or November 2019.

After discovering the fraud August 12, 2019, the City took quick action and on August 16, 2019, an Ontario Superior Court judge ordered the City funds to be frozen.

The vast majority of the $1.04 million obtained in the fraud scheme that has not been returned to the City has been identified, traced and locked down by the Court.

View related news releases on this matter on saskatoon.ca.