Saskatoon recovers more money lost in fraud scheme

The City of Saskatoon has recovered more money that it lost to a fraud scheme in August.

Just over two-thirds of the $1.04 million lost has been recovered, bringing the total dollar amount recovered so far to nearly $700,000.

A fraudster had impersonated the chief financial officer of Allan Construction, who said he wanted a change in banking information.

The city complied with the request, and the next contract payment that was to go to Allan Construction was instead direct-deposited into the fraudster’s account.

“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,” city manager Jeff Jorgenson said in a news release.

The release also said Jorgenson anticipates an update report on the findings of the internal investigation will be provided to city council and the public in November or December 2019.