Three members of the Canadian Armed Forces are among seven men charged over the kidnapping of a crypto exchange owner in Toronto.
Toronto Police Service announced on Wednesday that it had laid 82 charges in total, including kidnapping for ransom and numerous firearms offences. None of the charges have been tested in court.
What police allege
Police allege the victim was approached near Finch Avenue East and Bayview Avenue on 25 July as he walked to his vehicle.
He was abducted at gunpoint, handcuffed and assaulted while the suspects tried to get into his cryptocurrency and his business security systems. He was later released after being threatened and told not to contact police.
Chief Superintendent Joe Matthews said the victim was “allegedly targeted because of his access to cryptocurrency assets.”
Police had not named the victim or the exchange at the time of writing.
Who has been charged
Arrests were made in three waves.
On 26 July, police arrested Saiefeddine Adem, 22, and Raheem Bishop-Jackson, 24. On 11 August, they arrested Talarambage Fernando, 22, James Moreau, 29, and Christian Darbandi, 39. Jack Miley, 24, and Suhaib Alekozai, 39, were arrested on 24 September.
Fernando, Moreau and Miley are confirmed Canadian Armed Forces members. Fernando and Moreau are reservists with the 7th Toronto Regiment. The Department of National Defence said they were removed from military duties after their arrests.
Military ammunition among the seizures
Searches of homes and vehicles turned up a shotgun, two 9mm firearms with 3D-printed receivers, two silencers, GPS trackers, handcuffs, methamphetamine, cocaine and more than 2,700 rounds of ammunition.
Investigators said about 2,500 of those rounds had been stolen from the Canadian Armed Forces.
“No one is above the law,” said Police Chief Myron Demkiw.
Police say there are no outstanding suspects and no further arrests are expected, though the investigation is continuing.
Not the first Toronto-area case
It is not the first kidnapping of a crypto figure in the Toronto area.
In 2024, WonderFi chief executive Dean Skurka was released after a ransom of about $720,000 was paid.
What happens next
All seven accused will now go through the courts. The charges are allegations and have not been proven.
For crypto holders and business owners, the case is a reminder that the risk extends beyond hacks to personal security, especially for people publicly known to control digital assets.
