Toronto police announced Wednesday that three members of the Canadian Armed Forces are among seven people arrested in an investigation into the abduction of a cryptocurrency exchange owner. The probe, which began in July, uncovered ammunition allegedly stolen from the military.

Details of the investigation

The investigation started on July 25, 2026, following a reported abduction in the Finch Avenue East and Bayview Avenue area. Police allege the victim was targeted while approaching his vehicle, where he was taken at gunpoint, handcuffed, and assaulted. The suspects reportedly attempted to access his cryptocurrency assets and business security systems.

During the course of the investigation, police executed search warrants that led to the seizure of various items, including:

  • A shotgun and two 9mm firearms with 3D-printed receivers
  • More than 2,700 rounds of ammunition
  • Two silencers and ten over-capacity magazines
  • Large quantities of methamphetamine and cocaine
  • Various tools such as knives, hatchets, and a crossbow

Was ammunition stolen from the military?

Investigators determined that approximately 2,500 rounds of assorted ammunition were allegedly stolen from the Canadian Armed Forces. About half of these rounds were blanks. Police noted that this ammunition had not been reported stolen to the military prior to its seizure.

The three military members involved include Jack Miley, 24, and two bombardiers from the 7 Toronto Regiment, Talarambage Sachintha Fernando, 22, and James Moreau, 29. While the military members have had their access restricted, they remain in the Armed Forces pending a formal review. The Department of National Defence stated it is committed to addressing any identified deficiencies in ammunition oversight.

FAQ

What was the motive for the abduction?

Police allege the suspects targeted the victim to gain access to his cryptocurrency assets and business-related security systems.

Are the suspects connected to organized crime?

While an earlier statement suggested a link, investigators said a connection to a larger organized crime group has not yet been established as they continue to examine cellphones.