Toronto police have arrested seven people, including three Canadian Armed Forces reservists, in connection with the July abduction of a cryptocurrency exchange owner. The investigation led to the seizure of firearms, drugs, and over 2,500 rounds of ammunition allegedly stolen from the military.

What was seized during the investigation?

As the kidnapping probe expanded into an organized crime investigation, authorities uncovered a significant cache of illegal items. According to police, the seized materials included:

  • More than 2,500 rounds of ammunition, approximately half of which were blanks
  • Five over-capacity magazines
  • Firearms, some featuring 3D-printed parts
  • Two silencers and various illicit drugs

Police noted that the military ammunition had not been reported stolen prior to its recovery during the investigation.

Details of the military ammunition theft

Three of the accused—Talarambage Fernando, 22, James Moreau, 29, and Jack Miley, 24—are reservists with the 7th Toronto Regiment. The Department of National Defence confirmed the men have been removed from military duties and had their access to equipment restricted. While they remain members of the CAF pending an administrative review, the department is working to improve oversight of its ammunition holdings.

Chief Superintendent Joe Matthews expressed concern regarding the involvement of trained personnel, stating, "These are highly trained individuals with access to firearms and that creates a lot of concern."

How did the kidnapping occur?

The incident began on July 25 near Bayview Avenue and Finch Avenue East in North York. Investigators say the victim was targeted as he approached his vehicle. The man was allegedly abducted at gunpoint, handcuffed, and assaulted while suspects attempted to access his cryptocurrency assets and security systems. He was later released after being threatened.

FAQ

Who are the military members involved?

The three reservists identified are Talarambage Fernando, James Moreau, and Jack Miley.

What charges are the suspects facing?

The accused face a total of 82 charges, including kidnapping for ransom, forcible confinement, and various firearms offenses.