The Royal Canadian Mounted Police (RCMP) are conducting a search at the Lion Electric facility in Saint-Jérôme, Que., on Wednesday, as part of an investment fraud investigation. Investigators executed a search warrant to gather evidence, including servers. No arrests or charges have been laid yet, but charges may be laid at a later date. “It is important to note that this operation relates to the company’s past activities, before it was bought by the current owners,” Sergeant Erique Gasse told CTV News. The investigation began in February 2025 after the Integrated Market Enforcement Team received over 100 complaints from investors. According to the RCMP, 75 officers are taking part in the operation, and the search could take several days given the size of the facilities. A group of Quebec investors acquired the electric school bus manufacturer in 2025, after the former owners of Lion Electric obtained protection from its creditors in 2024 because it was in debt of US$500 million. The company also faces a class-action lawsuit filed by shareholders who allege it misled investors and misrepresented its financial status, leading to falsely inflated stock prices.
