The City of Saskatoon has recovered roughly $400 thousand dollars that were directed to a fraudster’s bank account through a fraud scheme in August.

The fraudster impersonated the CFO of Allan Construction and requested to change banking information with the City.

City Manager Jeff Jorgenson says the City continues to actively work with banks, law enforcement and its legal team to recover the remaining funds that were stolen.

In a news release, Jorgenson says there’s an important court hearing taking place in Toronto this week, meaning that there will be further movement on the return of the funds following the hearing. The funds currently remain frozen in various bank accounts.

$1.04 million dollars were taken from the City of Saskatoon in the scheme.

After the fraudster requested to change banking information this summer, the City complied and the next contract payment intended to go to Allan Construction was then directed to the fraudster’s account. The payment was related to the ongoing construction on the Sid Buckwold Bridge.

An update report will provided to City Council and the public in either October or November.