Fugitive Ponzi Scheme Operator Demanded Payment for Interview
Greg Martel has requested financial compensation from reporters while currently evading international arrest warrants.
Updated on Oct. 1, 2026 in Financial Crime
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Greg Martel, the man behind a $149 million Ponzi scheme, has solicited payments from journalists in exchange for an exclusive interview. Martel is currently a fugitive with outstanding arrest warrants in Canada and the United States.
Why it matters
Martel's attempt to monetize his media presence highlights the ongoing struggle to apprehend suspects involved in massive financial fraud. His ability to contact reporters while hiding underscores the complexity of tracking fugitives who have fled across multiple jurisdictions.
A court-ordered receiver report confirmed 1,200 investors lost $149 million following the collapse of Shop Your Own Mortgage. Martel currently faces active arrest warrants in Canada and the United States, though his exact whereabouts remain under investigation.
The players
Greg Martel
He is the former operator of Shop Your Own Mortgage who is currently wanted for running a $149 million Ponzi scheme.
Global Affairs Canada
This is the Canadian government department responsible for managing diplomatic relations and providing consular assistance to citizens abroad.
The details
Martel, who previously operated out of Victoria, Canada, contacted a reporter by phone from Georgia to gauge interest in a paid exclusive. His company, Shop Your Own Mortgage, entered receivership in May 2023, and he has since been tracked to locations including Thailand and Dubai.
Timeline
May 2023: Shop Your Own Mortgage was placed in receivership.
September 2026: Martel called a reporter from Georgia to solicit payment.
October 2026: Global Affairs Canada confirmed providing consular assistance.
Legal Context
The Martel case mirrors the historical pattern of the 2008 Bernie Madoff Ponzi scheme collapse in terms of the scale of investor losses. It represents a recurring challenge for international law enforcement when dealing with suspects who exploit global borders to evade prosecution.
The international search for a suspect involved in such a large-scale scheme serves as a reminder for investors to verify credentials and historical performance of mortgage-related companies. Authorities continue to work across borders to secure the arrest and potential recovery of remaining assets.
The takeaway
Financial fraud remains a persistent global issue that often results in significant losses for thousands of individual investors. Seeking professional verification of financial entities before investing remains the most effective safeguard for protecting personal capital.
Further reading
For more information on large-scale investigations, visit our Financial Crime section.
Source note: This article includes information reported by CHEK.
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