Durham Police yesterday said a male is in custody after fraudulently collecting over $2.5 million for an investment scam.
In June 2024, the DRPS Financial Crimes Unit (FCU) began an investigation into a male who told two victims he was a financial trader and could guarantee high returns on investments using an online trading platform.
Between March 2023 and March 2024, the suspect persuaded the victims to transfer him large sums of money to be invested. The suspect told the victims to open accounts via the platform, where the suspect would have sole control over trading, police said.
The suspect enticed the victims to transfer funds by driving luxury high end cars, and showing them forged investment return statements. During this period, the suspect collected over $2.5 million in funds from the victims, which he used to finance his extravagant lifestyle.
On Sunday, September 21, investigators from the FCU completed their investigation and took the suspect into custody.
The suspect, age 23 from Oshawa is charged and held for a bail hearing. Name and further details available at www.drps.ca.
Anyone with information about this or similar incidents is asked to contact Det. Jaciuk of the Financial Crimes Unit at 1-888-579-1520 ext. 5353.
Editor’s Note: Durham Post does not name or identify the accused as:
1. Of this time, they are suspect[s] and not convicted by a court, and
2. Sometimes charges are amended or dropped.
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