CWS Capital Founder Embezzles Millions in Client Funds, Faces Canadian Police Warrant

The Royal Canadian Mounted Police (RCMP) integrated market enforcement team (IMET) have launched investigation on Canadian Wealth Strategies (CWS) Capital in Alberta, charging its 41-year-old founder and president, Mark Douglas Alexander, with money laundering and fraud, and have issued a warrant.

The Edmonton-based company marketed itself as an international foreign exchange trading firm. However, CWS Capital ceased operations in April 2023.

At the time, the company posted on social media stating it had noted “concerning things” regarding CWS Capital and had reported to authorities and securities commission. This post marked CWS Capital's final social media update.

According to Canadian authorities, CWS Capital founder Alexander embezzled over CAD 10 million in investor funds and transferred CWS’s funds to other accounts under his control. Additionally, portions of the misappropriated funds were directed to cryptocurrency exchanges.

Alexander is wanted by Canadian police on charges of money laundering, fraud, and possession of property obtained by crime.

It is reported that CWS Capital referred to Alexander as a fund manager on social media, stating he had a strong interest in foreign exchange investments and spent time studying the field before founding Canadian Wealth Strategies Capital in 2013.

The founder disappeared one week after CWS Capital ceased operations. Prior to this, he had been residing in the Dominican Republic for about two years.

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