$950K stolen in investment scam leads to charge for Brampton man: police

Police say international fraudsters stole over $950,000 in a fake investment scheme with the help of an Ontario suspect, leading police to lay charges against a Brampton man.

The scam happened last year when an 83-year-old victim was contacted by fraudsters pretending to be from PC Financial, the Halton Regional Police Service says.

Police say the victim made what they thought was a $750,000 Guaranteed Investment Certificate through a fraudulent website, and that a second victim in Alberta also lost approximately $250,000 in the scam.

The scam originated in England, where suspects impersonated PC Financial advisors using information taken from LinkedIn profiles, police say.

The suspects also worked with an Ontario resident “to help receive and transfer the stolen funds overseas,” investigators say.

Police say the suspect from Brampton created a fraudulent corporation called Intact Global Inc., and opened multiple business bank accounts to receive and launder more than $950,000 in victim funds.

“The accused then transferred the money to England, where it was further dispersed and laundered,” police say.

Police say the suspect was arrested on Dec. 5 and charged with multiple offences.

Inderjeet Singh, 26, of Brampton, has been charged with fraud over $5,000, possession of property obtained by crime over $5,000, and laundering proceeds of crime.

The accused was released on an undertaking with a future court date in Milton.

Police are urging “to exercise extreme caution” when considering investment opportunities, saying fraudsters often pose as trusted professionals to “create sophisticated online platforms to lure potential victims.”

Anyone with information about these incidents can contact Halton police by calling 905-825-4777, ext. 8739. Anonymous tips may also be provided to Crime Stoppers by calling 1-800-222-8477 or visiting www.ontariocrimestoppers.ca.

When you contact Crime Stoppers you stay anonymous, never have to testify, and could receive a $2,000 reward.