Investor Recovers $240K Lost to Crypto Fraud, Still Waiting for Repayment

In a recent legal development, a Saskatchewan judge has decreed that Jamie van der Linde, a victim of cryptocurrency fraud, is entitled to regain his lost $240,000 but must wait for actual possession of the funds. Van der Linde fell prey to fraudsters masquerading as the reputable Canadian crypto brokerage, Coinsquare. The criminals gained unauthorized access to his bank account and siphoned off the substantial amount.

After an extended legal struggle, the Royal Bank of Canada (RBC) successfully retrieved the stolen amount. However, the bank ran into internal policy constraints when attempting to restore the funds to van der Linde’s account. This led Judge Leslie Halliday to mandate that the recovered sum remain within RBC’s jurisdiction for the time being.

The judge clarified that although van der Linde was innocent of any wrongdoing, RBC is obligated to act prudently in safeguarding client assets by strictly adhering to their internal security protocols. Until further directives are issued, RBC is instructed to hold the recovered funds and ensure the prevention of any fraudulent activities against their clientele or any third parties involved.

While van der Linde has not yet regained control over his initial investment, both he and Judge Halliday remain hopeful that sufficient evidence of ownership will soon be presented, allowing for the complete restitution of the previously stolen amount.

Sentiment: Hopeful