In the first days of August 2026, reports began circulating about unpaid transfers and outstanding customer claims involving Apadana Exchange in Vancouver. The situation became more serious after the exchange effectively closed and a number of creditors gathered outside its location.
In this investigative interview, I speak with Hamidreza Karimi, owner of Apadana Exchange, about what happened and the questions that have been raised by creditors and the wider public.
The conversation covers his background in the currency-exchange business, his previous activities in Toronto and Vancouver, the operations of Apadana Exchange, outstanding customer claims, and the possibility of repayment.
We also discuss the structure of money transfers between Iran and Canada, the role Iranian exchange businesses play in that process, banking restrictions, the company’s registration status, and issues related to FINTRAC.
Why This Interview Is Being Published
The publication of this interview does not constitute an endorsement or verification of the claims or statements made by the interviewee.
The purpose is to raise the questions currently surrounding this case, provide an opportunity for the person at the center of the matter to respond, and help clarify the situation for creditors, the Iranian-Canadian community, and the wider public.
The perspectives of creditors and others who may have relevant information or documentation are equally important.
This platform remains open to individuals who wish to provide relevant information, documents, or perspectives concerning this case.
Kamran Malekpour
Investigative Journalist
