Kidnapping Case Leads to Cache of Weapons

Toronto Police Chief Myron Demkiw credited investigators’ persistence with uncovering firearms, stolen ammunition and illicit drugs during an investigation into the alleged violent kidnapping of a cryptocurrency exchange owner.

Seven men have been arrested and 82 criminal charges laid following the July 25 abduction in the Finch Avenue East and Bayview Avenue area. Three of the accused are members of the Canadian Armed Forces.

“What started as an abduction investigation quickly became much bigger,” Demkiw said at a news conference at police headquarters on October 14. “Through the dedication and persistence of our investigators, every lead was pursued and every new piece of evidence led them to another person, another location, and another important discovery.”

Investigators allege the victim was targeted as he approached his vehicle, abducted at gunpoint, handcuffed and assaulted. The suspects allegedly attempted to gain access to his cryptocurrency assets and business-related security systems.

The victim was later released after being threatened and warned not to contact police.

The Integrated Gun and Gang Task Force’s Kidnapping Unit began pursuing leads immediately. Within 24 hours, investigators identified the vehicle believed to have been used in the abduction and arrested two suspects.

Further investigative work led to additional arrests in August and late September. By September 24, all seven accused had been arrested and charged.

Chief Superintendent Joe Matthews, who oversees Detective Operations, said the investigation expanded as officers followed the evidence.

“What began as an abduction investigation became a firearms investigation, a drug investigation, and ultimately a much broader criminal investigation,” he said.

Search warrants executed at residences and vehicles across the Greater Toronto Area resulted in the seizure of four firearms, including a shotgun, two 9mm firearms with 3D-printed receivers and another 9mm firearm police allege was not safely stored.

Officers also seized two silencers, ten over-capacity magazines, more than 2,700 rounds of ammunition and large quantities of methamphetamine, cocaine and other controlled substances.

Other items recovered included cellular phones, a replica firearm, knives and hatchets, GPS tracking devices, portable radios, handcuffs, a balaclava, a baton, a money counter and Canadian currency.

Investigators determined that approximately 2,500 rounds of ammunition and five over-capacity magazines had been stolen from the Canadian Armed Forces.

Demkiw said the seizures represented an important public safety outcome.

“Their work resulted not only in seven arrests, but also the seizure of firearms, stolen ammunition, drugs, and other items that posed a significant risk to public safety,” he said.

Demkiw emphasized that the allegations against the military members would be considered in court.

“At this time, they are accused facing criminal allegations, and they will be judged in a court of law,” he said. “Whether you are a member of the military, a police service, or a public official, no one is above the law. Our officers will always follow the evidence wherever it leads, and act on it.”

Charges vary among the accused and include kidnapping for ransom, forcible confinement, conspiracy, firearms offences, possession of property obtained by crime and possession of controlled substances for trafficking.

Matthews said the investigation illustrated how offenders were adapting their methods to target digital assets.

“Criminals continue to adapt their methods and identify new opportunities for financial gain,” he said. “In this case, the victim was allegedly targeted because of his access to cryptocurrency assets. Our responsibility is to adapt alongside those threats.”

Demkiw thanked the Kidnapping Unit, Emergency Task Force, Forensic Identification Services and personnel from 33, 51 and 55 Divisions for their contributions. He also thanked the Canadian Armed Forces for its full cooperation.

“Their persistence and commitment to following the evidence wherever it led were instrumental in bringing this investigation to a successful conclusion,” he said.

Police are not currently seeking additional suspects, but the investigation remains active. Anyone with information about the incident or the accused is encouraged to contact the Integrated Gun and Gang Task Force at 416-808-2510.