Large-scale investment scam exceeding $42 million by a Canadian man, recruiting victims on Discord

SchrodingerAirdrop · 2026-01-28T15:04:26+00:00

The U.S. authorities have charged Canadian Nathan Gorvin with orchestrating a massive investment scam, attracting over $42 million through deceptive schemes on Discord, falsely claiming high returns and misusing funds for personal expenses.

SchrodingerAirdrop

2026-01-28 15:04:26

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U.S. authorities have indicted Canadian national Nathan Govin on charges of large-scale investment fraud. It has been revealed that this Canadian man’s scam raised over $42 million through clever solicitation methods and false investment schemes on messaging app Discord. As reported by Bloomberg on December 11, citing PANews, from May 2022 to October 2024, this male scammer deceived many investors.

Fake Fund Names Fusing Traditional Finance and DeFi Investment Schemes

Disguising himself as Gray Digital Capital Management and its Gray Fund, Govin lured investors by pretending to offer an “innovative fund integrating TradeFi and DeFi.” Targeting individual users on Discord, he claimed investments in both traditional finance and cryptocurrencies, while using false advertising to recruit victims.

This Canadian suspect falsified all his investment credentials, company assets, and past investment records. Remarkably, he also claimed that the Gray Fund’s returns reached 4,384%. By presenting such unrealistic figures, he appealed to investors’ desires and gained their trust.

Collected Investment Funds Diverted to Personal Consumption and Illicit Loans

The arrested Canadian man did not return most of the raised funds to investors. Instead, he used them for personal luxury purchases, acquiring high-end jewelry, and paying off credit card debts. Even more concerning, he illicitly obtained an additional $800,000 in loans from a fintech company through fraudulent means, which he also diverted for personal expenses. Refunds to victims were almost never made, and all scam proceeds went into the scammer’s personal pocket.

Arrested in the UK Following Joint Investigation by U.S. Authorities and SEC

The U.S. Securities and Exchange Commission (SEC) has also charged Govin with securities fraud, accusing him of providing false reports to regulators and submitting forged documents. According to an announcement on Wednesday, Govin was arrested in the UK. With cooperation between U.S. and UK enforcement agencies, the full scope of this large-scale scam by the Canadian man is expected to be uncovered. His defense team remains undecided at this time.

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