Police blotter: Norfolk resident loses $40000 in cryptocurrency investment scam - Simcoe Reformer | Canada News Media
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Police blotter: Norfolk resident loses $40000 in cryptocurrency investment scam – Simcoe Reformer

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A Norfolk County resident is out $40,000 after taking part in a deceptive cryptocurrency investment scam.

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Police began a fraud investigation late Friday morning, March 29 and determined that the victim had responded to an online advertisement promising large returns on an initial investment.

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The victim invested about $40,000 between January and March 2024. When they attempted to access their funds, they realized it was a scam after being told they were required to pay more money to get back their original investment.

Police say frauds and scams – a multi-million-dollar enterprise — are a daily occurrence through letters, faxes, phone calls, and online platforms and will only stop when the criminals stop profiting.

To avoid becoming a victim of fraud, citizens should research and verify the legitimacy of companies and the investment opportunities being offered.

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Investments promising high returns with little risk are a sign of a potential scam and people should also avoid sharing sensitive, personal information with unfamiliar parties.

Woman faces impaired charge
A 32-year-old Norfolk County woman has been charged with impaired driving.
The vehicle was stopped at a R.I.D.E. program checkpoint on Main Street in Delhi at about 4 p.m. on Sunday, March 31.
After assessing her sobriety, the driver was taken into custody and charged with operation while impaired – alcohol and drugs, and failing to properly wear a seatbelt.

Vehicle damaged, man charged
A 37-year-old Haldimand County man has been charged with mischief under $5,000, fail to comply with a probation order, and fail to comply with release order – other to attend court.
Norfolk OPP were called to investigate property damage at a Queensway East, Simcoe address.
A vehicle parked on the property was damaged between 4 p.m. and 6 p.m. on that day, and officers later located and arrested the individual at a Third Avenue, Simcoe address.

Mischief charges in Simcoe

A 22-year-old Norfolk County resident has been charged after a report of mischief in progress on Colborne St. South in Simcoe.
Police responded at about 5:46 p.m. on Monday, April 1 and found that someone had caused damage to a nearby business and had thrown debris onto the road causing a hazard to motorists.
Officers located and arrested the accused, who has been charged with three counts of mischief – destroys or damages property, and possession of a weapon for a dangerous purpose.

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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