A Winnipeg man who says he lost nearly $650,000 in retirement funds to an alleged fraud scheme is suing a credit union and a bank in what the lawsuit calls a case of 'financial elder abuse'.

Peter Squire is suing Access Credit Union and the Royal Bank of Canada after he fell victim to a fraudster in November 2022.

Squire is a 68-year old retiree and a lawsuit he filed Thursday at the Court of King's Bench says senior citizens "are more vulnerable to fraud and financial abuse than other individual…