Greg Martel, a Victoria man accused of running a multi‑million‑dollar Ponzi scheme thrugh his firm Shop Your Own Mortgage (SYOM), was taken into custody in the country of Georgia, according to multiple sources.. The arrest, confirmed by Global Affairs Canada, follows a years‑long chase that saw Martel traced from Thailand to Dubai before landing in the Caucasus.

Georgia arrest follows a three‑year international manhunt

According to the sources cited by CHEK News, Martel was apprehended in Georgia after investigators followed a trail that led from Thailand to Dubai, United Arab Emirates. Global Affairs Canada confirmed that consular officials are now assisting the Canadian citizen and are in contact with local authorities, though privacy rules limit further disclosure.

SYOM receivership in May 2023 sparked the fraud fallout

The scheme unraveled when SYOM was placed in receivership in May 2023,prompting Martel to promise investors that all funds would be repaid.. PwC, the court‑appointed receiver, later determined that the promised “bridge loans” were fictitious and that the operation was a classic Ponzi fraud.

Investors still face ruined retirement plans

One victim, identified only as “Horsland,” told CHEK News that the collapse forced a retiree to return to work after the Canada Revenue Agency re‑assessed their tax return, wiping out a pension. The ongoing damage illustrates how the scheme’s promised sky‑high returns turned into long‑term financial ruin for many Canadians.

Unanswered questions: custody status and Canadian charges

Global Affairs Canada declined to reveal whether Martel remains in custody, and Canadian prosecutors have yet to lay formal charges. The B.C. Securities Commission referred inquiries to an “ongoing investigation,” leaving the legal outcome in Canada uncertain.

Why the arrest matters for cross‑border fraud enforcement

The Georgia detention underscores the challenges of pursuing financial fraudsters who operate across multiple jurisdictions. It also highlights the role of foreign diplomatic channels in securing cooperation from host nations, a factor that may influence future cases of transnational investment scams.