Hamilton police have arrested a car salesman as part of an investigation into an alleged fraud where luxury vehicles were bought under stolen identities and then re-registered or exported overseas.
A 44-year-old man from London, Ont., faces several charges, including 14 counts each of fraud over $5,000 and obtaining credit by fraud.
Get daily National news
Police allege the sales representative used his position at a local dealership to fraudulently acquire 14 high-end vehicles between November 2023 and March 2024.
They say the purchases were allegedly financed by loans taken out under stolen identifies without the victims’ knowledge, in a scheme that left the dealership and financial institutions with $1.5 million in losses.
- Former MP charged after police seize more than 400 guns from Manitoba home
- No arrests or suspects yet as Toronto police investigate fatal festival shooting
- Shooting and hostage call that prompted evacuation was a hoax: Halifax police
- Fashion mogul Peter Nygard found guilty of sexual assault in Montreal
Police say only one vehicle has been recovered so far and most of them have been exported out of the country or re-registered.
Police say the investigation is still active and more arrests are expected.
Comments
Comments closed.
Due to the sensitive and/or legal subject matter of some of the content on globalnews.ca, we reserve the ability to disable comments from time to time.
Please see our Commenting Policy for more.