The B.C. Securities Commission has accused a former Comox Valley man of raising $4.6 million from investors through an alleged cryptocurrency trading bot scheme and using the money for personal spending.

The commission alleges that Connor Sinclair Gardiner-Ingram, who now lives in Alberta, obtained the funds from dozens of investors between 2021 and 2024. Investors were allegedly told their money would be placed into trading bots that would generate profits over a set period.

Instead, the commission claims the funds were used to support Gardiner-Ingram’s lifestyle, including spending on travel, jewelry, luxury goods, vehicles, transfers to family members and cash withdrawals.

The commission also alleges Gardiner-Ingram made false statements under oath during its investigation, including statements about the movement of investor funds and whether he had accounts or a line of credit at Silicon Valley Bank.

The allegations have not been proven. The commission said Gardiner-Ingram or his counsel must appear at the B.C. Securities Commission’s offices on Sept. 15 if he wishes to be heard before a hearing is scheduled.

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Originally published on Canadian Fraud News.