Waterloo man arrested after counterfeit coin sold for $25,000
Alison Sandstrom
A 61-year-old Waterloo man has been arrested after an investigation into the sale of counterfeit money.
In December 2021, a Niagara Region collector purchased what he thought was a rare 1921 Canadian 50 cent coin for $25,000, Niagara regional police said in a media release.
Depending on its condition, the value of this coin can far exceed $25,000, police said.
But when the coin was received from the seller, it was determined to be counterfeit.
After an investigation, police identified a suspect. On Tuesday May 17, a 61-year-old man from Waterloo was arrested.
He is now charged with fraud over $5,000 and uttering counterfeit money.
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