Brampton man facing charges over alleged investment scam
Published April 26, 2024 at 9:25 pm
A Brampton man is facing three charges after an alleged investment scam.
Toronto police is alerting the public to be aware after they allege fraudsters are impersonating the Schroders investment firm.
Police allege that:
- Suspects are placing advertisements with internet search engine providers to promote various fraudulent investments
- The advertisements 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, suspects posing as representatives of Schroders Management Inc. will then call victims
- Suspects will then email fraudulent Schroders prospectuses and application forms to victims
- Suspects will offer high return on investments with seemingly little or no risk
- One Toronto victim was defrauded of over $200,000 Canadian Dollars
Arvinder Singh, 24, of Brampton, has been charged with fraud over $5,000, possession of proceeds obtained by crime over $5,000 and launder proceeds of crime.
Singh is scheduled to attend the Ontario Court of Justice, located 10 Armoury St., on Wednesday, June 12, 2024, at 2 p.m.
Toronto investigators believe there may be additional victims.
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Anyone with information regarding this investigation is asked to contact police at 416-808-4300, Crime Stoppers anonymously at 416-222-8477 or at www.222tips.com.
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