RCMP raids Lion Electric HQ

MONTREAL — The RCMP says it raided electric bus maker Lion Electric's headquarters on Wednesday in connection with an investment fraud case.

RCMP spokesperson Cpl. Martina Pillarova says dozens of officers are scouring the premises in Saint-Jérôme, Que., in a search that could last several days, but no charges or arrests are expected at the moment.

She says police received complaints from more than a hundred investors and launched an investigation in February 2025.

Pillarova says the operation relates to the company's past activities, with no connection to its new owner.

Quebec's financial regulator said last week it was imposing a $1.1-million penalty on Claude Roy, an investor with ties to Lion, after he admitted to selling company shares in the six weeks before it went into bankruptcy protection in December 2024.

— The Canadian Press