Toronto police have charged seven people, including three members of the Canadian Armed Forces, in connection with a violent kidnapping that targeted the owner of a cryptocurrency exchange. The case centers on an incident that took place on July 25 in the North York area of Toronto, where the victim was allegedly confronted at gunpoint near Finch Avenue East and Bayview Avenue.

Details of the Abduction

According to investigators, the victim was approaching his vehicle when a group of suspects confronted him. They placed him in handcuffs, assaulted him, and sought to compel him to provide access to his cryptocurrency holdings as well as security systems linked to his business. The victim was later released after being warned against contacting authorities. Police have not confirmed whether any digital assets were successfully transferred or disclosed the value of the holdings involved.

Investigators identified a vehicle connected to the crime within 24 hours and made initial arrests. Further evidence pointed to additional suspects and related offences involving firearms and controlled substances.

Arrests, Charges and Military Personnel

The seven accused face a combined total of 82 criminal charges. These include kidnapping for ransom with a firearm, forcible confinement, unauthorized possession of firearms, and possession of drugs for the purpose of trafficking.

Three of the suspects are serving members of the Canadian Armed Forces. They have been identified as Talarambage Fernando, 22; James Moreau, 29; and Jack Miley, 24. Fernando and Moreau were arrested on August 11, while Miley was taken into custody on September 24. Fernando and Moreau serve as bombardiers with the 7th Toronto Regiment, a reserve artillery unit within the 32 Canadian Brigade Group that operates from Moss Park Armoury. Both have been removed from military duties. Fernando joined the reserves in January 2020 and has not been deployed. Limited information has been released regarding Miley’s specific assignment.

Police have not established connections between the suspects and any organized criminal group. Authorities continue to examine potential links to other cryptocurrency-related offences in the region.

Items Recovered During Searches

Search warrants executed in the course of the investigation led to the seizure of multiple weapons and other materials. Items recovered included a shotgun, firearms fitted with 3D-printed receivers, two 3D-printed pistols, suppressors, GPS tracking devices, a crossbow and arrows, and Canadian currency. Officers also seized substantial quantities of methamphetamine, cocaine and other controlled substances.

Investigators recovered approximately 2,500 rounds of ammunition belonging to the Canadian Armed Forces. Military officials confirmed the rounds originated from their inventory after they had not previously been reported missing to civilian police. One account of the seizures noted a total exceeding 2,700 rounds, of which about 2,500 were identified as military property.

Statements from Police Leadership

Toronto Police Superintendent Joe Matthews characterized the case as an example of the increasingly sophisticated and targeted nature of crimes involving digital assets. He noted that the suspects allegedly relied on physical violence and intimidation to obtain access to financial holdings. Matthews also described the military members among the accused as highly trained individuals with access to firearms.

Toronto Police Chief Myron Demkiw expressed concern about the risks posed to the victim, the broader community and responding officers. He stated that the involvement of people with military training was particularly troubling given the alleged use of force in the abduction.

Military Response and Ongoing Probe

Canada’s Department of National Defence confirmed the arrests of its members and stated that military police are conducting a separate investigation into the recovered ammunition while cooperating with Toronto Police. The department is reviewing ammunition inventory controls, including verification of existing holdings and stock-count requirements. Officials noted that existing procedures already govern the receipt, storage, use and return of ammunition for both regular and reserve forces, alongside regular inspections and physical security checks. A broader modernization of ammunition management, focused on inventory accuracy, traceability and accountability, is planned for the fall.

Police are continuing to examine electronic devices seized during the investigation, including mobile phones and computers. Encryption has complicated efforts to recover certain communications. Authorities have indicated there are no outstanding suspects at this stage, though the examination of evidence remains incomplete.