Filipina, Husband Arrested After Nearly Five Years on the Run in $5M Fraud Case

A Filipina woman and her husband have been arrested in Ontario after nearly five years on the run in connection with an alleged investment fraud scheme that authorities say cost investors almost CAD $5 million.

The Royal Canadian Mounted Police (RCMP) announced that Emilia Alas-As Elansin, 44, and her husband, Fernando Honorate de Silva Fagundes, 70, were taken into custody on May 26 in Algonquin Highlands, Ontario.

According to investigators, the couple operated an Alberta-based day trading company called Family First Dynasty Inc. from Millarville, Alberta. Authorities allege that between January 2019 and December 2020, they solicited investments from individuals in Alberta and British Columbia by promising high returns and low-risk stock market investments.

Police said Fagundes portrayed himself as a day-trading expert through a legitimate investment education company known as Day Trading Coach Inc., helping attract investors to the scheme.

The RCMP alleges that nearly CAD $5 million entrusted by investors was misappropriated by the couple.

Canada-wide arrest warrants were issued in November 2021 after Elansin and Fagundes allegedly fled the Millarville area. Authorities were unable to locate them for several years.

Their fugitive status came to an end when Ontario Provincial Police officers responded to an unrelated service call and discovered the pair were wanted under active arrest warrants.

Both Elansin and Fagundes have been charged with theft over $5,000, fraud over $5,000, and laundering the proceeds of crime over $5,000.

Following their arrests, the couple was returned to Alberta to face criminal proceedings. Fagundes appeared before the Alberta Court of Justice in Calgary, while Elansin also made a court appearance in connection with the case.

The allegations have not been proven in court, and both defendants are presumed innocent unless proven guilty.

The RCMP said the investigation remains ongoing.