Mississauga resident charged with fraud following years-long investigation

The Ontario Provincial Police (OPP) Serious Fraud Office (SFO) says it has charged a 57-year-old from Mississauga with fraud after a credit card company was left with outstanding payments of over $1 million.

Members of the SFO say an investigation was launched back in November of 2020, when the Peel Regional Police brought a case of bust-out credit card fraud to their attention.

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A credit card bust-out involves fraudulently using a credit card to increase the limit on it and racking up numerous charges without paying them off.

According to Peel police, the accused used this tactic to make several “large purchases”, which were never paid back, leaving the credit card company with a balance of over $1 million.

Officials with the SFO said Tuesday the investigation led to the arrest of a 57-year-old Mississauga resident, who is facing charges of fraud and forged documents.

The suspect was released from custody and is scheduled to appear in court on Feb. 22.