The City of Saskatoon has recovered two thirds – nearly $700,000 – of the money it says was stolen in a fraud scheme this summer.
“We recognize and are thankful for the efforts expended by multiple parties in order to recover these funds and look forward to further recovery in the coming weeks,” city manager Jeff Jorgenson said in a news release.
“As we continue our work with investigators, banks and our legal team in Ontario, we’re optimistic that the remaining funds that are still frozen in several bank accounts will soon be returned to the City.”
As of Sept. 30, the city had recovered about $400,000.
The next court hearing on the case is scheduled for Nov. 5 in Toronto.
An update to City Council and the public is expected in November or December, Jorgenson said.
In August, a fraudster stole the identity of the chief financial officer of Allan Construction, a company the city works with.
The scammer then contacted the city, asking to change the company’s banking information. The $1.04-million payment from the city then went to the fraudster's account, rather than the company's.
Any money that has not been returned to the city has been identified, traced and locked down by the Court, Jorgenson said.
