Calgary Trader Faces Big Fraud Charges: Here’s What You Need to Know

Calgary, brace yourselves for a significant case hitting close to home. Alexander (Alex) Francis Ongoma, a local, is facing six serious criminal charges, including two counts of fraud over $5,000 and four counts of uttering a forged document.

Authorities allege Ongoma misled investors by misrepresenting his financial standing and success as a foreign exchange trader. He supposedly claimed he would invest their money in both the foreign exchange market and property development, but the funds were never returned.

This isn't an isolated incident in our vibrant city, which sees a lot of investment activity. The Alberta Securities Commission (ASC) has been actively warning Calgarians about various investment scams, especially during initiatives like Fraud Prevention Month, where investment and cryptocurrency scams are highlighted as top risks.

Ongoma’s first court appearance is scheduled for 9 a.m. on Friday, November 14, 2025, at the Alberta Court of Justice, Calgary Court Center, located at 601 5 Street S.W., Calgary, Alberta.

The charges stem from an investigation by the Joint Serious Offences Team (JSOT), a partnership between the ASC and the RCMP Federal Policing Northwest Region's Integrated Market Enforcement Team (IMET). They’ve also acknowledged assistance from the Calgary Police Service and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). As JSOT emphasizes, their mission is to protect investors and bolster confidence in Alberta's capital market.

It's a stark reminder for Calgarians: always be vigilant and confirm you're dealing with reputable sources when it comes to your hard-earned cash.