Ontario man defrauded of $31,000; Brampton resident charged

A Brampton resident faces charges after a Guelph man was defrauded of more than $31,000.

The fraud dates back to the summer when the victim was introduced to a man through a mutual friend, Guelph Police said in a press release today.

The victim was interested in applying for a business loan, and the other man offered to help with the process, police said.

Police said the two people set up a registered company and opened a company bank account. During this process, the victim provided information including his banking details and social insurance number, police said.

In December, two unknown individuals deposited a number of fraudulent cheques into the account and immediately withdrew the funds before the cheques were returned, leaving the victim’s account with a negative balance of more than $31,000, police said.

When the victim confronted the man who helped open the account, he stopped responding.

On Monday, a 33-year-old Brampton man was arrested and charged with fraud over $5,000.

He will appear in court on June 2.

Police did not name the man charged.

Lead photo: Kindel Media