JSOT criminally charges Alexander (Alex) Francis Ongoma

CALGARY, AB, Nov. 3, 2025 /CNW/ - The Alberta Securities Commission (ASC) and the RCMP Federal Policing Northwest Region's Integrated Market Enforcement Team (IMET) announce that Alexander (Alex) Francis Ongoma of Calgary, Alberta, has been charged with six offences under the Criminal Code following an investigation by the Joint Serious Offences Team (JSOT).

Ongoma has been charged with two counts of fraud over $5,000 contrary to section 380(1)(a) and four counts of uttering a forged document contrary to section 368(1)(b) of the Criminal Code. It is alleged that Ongoma misrepresented his financial position and success as a foreign exchange trader to obtain money from investors, claiming he would invest on their behalf in both the foreign exchange market and in a property development. The funds were never returned to investors.

Ongoma was released on conditions, including that he not solicit investments, become or act as a director or officer of any issuer, registrant or investment fund, or provide advice in respect to securities or exchange contracts.  Ongoma's first appearance in court is scheduled for 9 a.m. on Friday, November 14, 2025 at the Alberta Court of Justice, Calgary Court Center, 601 5 Street S.W., Calgary, Alberta.

JSOT gratefully acknowledges the assistance of the Calgary Police Service and the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in this matter. 

JSOT is an enforcement partnership between the ASC and IMET. JSOT investigates and prosecutes quasi-criminal cases under the Securities Act (Alberta) and certain securities-related criminal offences under the Criminal Code. JSOT investigates repeat offenders, serious frauds, and breaches of ASC or court orders and bans. The primary objective is to protect investors and further enhance confidence in the Alberta capital market through collaborative investigations and prosecutions of serious violations of the law using the provisions of the Securities Act (Alberta) or the Criminal Code.

The ASC is the regulatory agency responsible for administering Alberta's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

IMET is a specialized unit under the RCMP Federal Policing program that detects, investigates, and deters market fraud. IMET works closely with the ASC to protect investors and further enhance confidence in Canada's capital markets.

SOURCE Alberta Securities Commission

For further information please contact: For media inquiries: Gabrielle Chamiço, Advisor, Communications, [email protected]; For investor inquiries: ASC Public Inquiries, Toll Free 1.877.355.4488, [email protected]