4 people charged in alleged $9 million real estate fraud in Mississauga and Brampton

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Published August 29, 2022 at 1:51 pm

Mississauga and Brampton residents are among four people charged in connection to an alleged $9 million real estate fraud.

The charges come following a joint investigation, dubbed Project OEmpire, by the Royal Canadian Mounted Police (RCMP), Integrated Market Enforcement Team (IMET), and the Ontario Securities Commission (OSC), the RCMP say in a press release.

Two of the people charged founded Noble Developments and related companies, RCMP say.

“These two people were used to acquire land for real estate developments in Brampton and Richmond Hill, in partnership with investors,” police say.

Investors then paid money to an unregistered investment manager, who allegedly forwarded more than $9 million to Noble Developments, RCMP say.

“Instead of making the promised investments, the accused used the funds for personal use and expenses unrelated to construction,” RCMP say in the release.

Several of the accused also forged documents to conceal the fraud from investors, police added.

“This investigation is a great example of the RCMP and the OSC working together to keep our communities safe. I want to thank the OSC and our RCMP officers, who once again, demonstrated continued commitment in working together to effectively disrupt financial crime,” says RCMP Staff Sergeant Dave Kim.

The following people have been charged:

Michael Hyman of Mississauga (37 years of age):

  • Fraud over $5,000, contrary to Section 380(1)(a) of the Criminal Code;
  • Intent to obtain property by way of a false pretence, contrary to Section 362(1)(a) of the Criminal Code; and
  • Use forged document contrary to Section 368(1)(b) of the Criminal Code.

Giuseppe Anastasio of Woodbridge (55 years of age):

  • Fraud over $5,000, contrary to Section 380(1)(a) of the Criminal Code; and
  • Intent to obtain property by the way of false pretence, contrary to Section 362(1)(a) of the Criminal Code.

David Bowen of Owen Sound (65 years of age):

  • Fraud over $5,000, contrary to Section 380(1)(a) of the Criminal Code; and
  • Use forged document, contrary to Section 368(1)(b) of the Criminal Code.

Harjot Singh of Brampton (37 years of age)

  • Use forged document, contrary to section 368(1)(b) of the Criminal Code.

All the accused are scheduled to make their first appearance in court on Sept. 21 at the Ontario Court of Justice, Old City Hall Courthouse, 60 Queen St. W. in Toronto.

Anyone considering a major investment should check the registration of the people or company offering the investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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