Man, 24, accused of defrauding victim in Toronto of more than $200G
![A person types on a computer keyboard in this stock photo.](https://smartcdn.gprod.postmedia.digital/torontosun/wp-content/uploads/2023/08/computer-keyboard-scaled-e1714165020623.jpg?quality=90&strip=all&w=288&h=216&sig=1XvHsuZeqixCTWqbT8U-mQ)
Article content
A 24-year-old man is accused of defrauding a victim in Toronto of more than $200,000 in an alleged investment scam.
Toronto Police allege fraudsters place advertisements with internet search engines to promote various fraudulent investments. The ads link to fraudulent investment comparison sites, and will prompt victims to supply their name, telephone number and email address.
Once the information has been provided, fraudsters posing as representatives of Schroders Management Inc. call the victims, cops claim.
The scammers then email fraudulent Schroders prospectuses and application forms to victims offering high returns on investments with seemingly little or no risk.
Investigators subsequently identified and arrested a suspect.
Arvinder Singh, of Brampton, is charged with fraud over $5,000, possession of proceeds obtained by crime over $5,000, and laundering proceeds of crime.
Investigators are concerned about the possibility of other alleged victims.
Anyone with information regarding this investigation is asked to contact police at 416-808-4300, or Crime Stoppers anonymously at 1-800-222-TIPS (8477) or online at 222tips.com.
RECOMMENDED VIDEO
Police advise the public to be vigilant when searching for investment opportunities and to be wary of any cold calls and/or unsolicited persons offering investments opportunities.
Cops suggest prospective investors consult with a known financial planner and/or financial institution, and to contact the alleged investment company by phone to ensure the person is employed by them.
Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.