Three soldiers, one crypto boss, 2,700 rounds: Toronto kidnapping plot was not very cash-money 💰

Three members of the Canadian Armed Forces are among seven men charged in the kidnapping of a Toronto cryptocurrency exchange owner, police announced on Wednesday, October 14, 2026. The Toronto Police Service said 82 charges have been laid, including kidnapping for ransom and multiple firearms offenses, in connection with the July 25, 2026 abduction. Investigators have not publicly identified the victim or the exchange.

Police allege the victim was targeted as he approached his vehicle near Finch Avenue East and Bayview Avenue, abducted at gunpoint, handcuffed and assaulted while suspects attempted to gain access to cryptocurrency assets and business-related security systems. He was later released after being threatened and warned not to contact police. "The victim was allegedly targeted because of his access to cryptocurrency assets," Chief Superintendent Joe Matthews told reporters, according to CityNews.

Seven suspects have been arrested. Saiefeddine Adem, 22, and Raheem Bishop-Jackson, 24, were taken into custody on July 26, 2026. Talarambage Fernando, 22, James Moreau, 29, and Christian Darbandi, 39, were arrested on August 11, 2026, followed by Jack Miley, 24, and Suhaib Alekozai, 39, on September 24, 2026. Fernando, Moreau and Miley are confirmed Canadian Armed Forces members. Fernando and Moreau are reservists with the 7th Toronto Regiment and were removed from military duties after their arrests, the Department of National Defence said earlier this month.

Searches of homes and vehicles recovered a shotgun, two 9mm firearms with 3D-printed receivers, two silencers, GPS tracking devices, handcuffs, large quantities of methamphetamine and cocaine, and more than 2,700 rounds of ammunition. Approximately 2,500 of those rounds were determined to have been stolen from the Canadian Armed Forces. "Criminals continue to adapt their methods and seek new opportunities for financial gain," Matthews said in the release. "Whether you are a member of the military or a member of a police service or a public official, no one is above the law," Police Chief Myron Demkiw told reporters.

Police say there are no outstanding suspects and no further arrests are expected, though the investigation remains ongoing. "We're still trying to determine how all of [the suspects] fit together in this puzzle," Matthews added. The Toronto case follows other Canada-linked crypto kidnappings, including the 2024 abduction of WonderFi CEO Dean Skurka, who was released after a $720,000 ransom was paid, and the September 2025 sentencing of a man to 13 years in prison for kidnapping a victim to obtain a $1 million $BTC ransom.