Toronto police say they’ve arrested a man in connection to a Ponzi scheme that took in nearly $1 million.
They say the 66-year-old man portrayed himself as an investor to people he met on social media between 2009 and 2017.
Police say the man allegedly persuaded people to provide up to $500,000 in what he said would be an investment into companies he worked for or owned.
Breaking news from Canada and around the world
sent to your email, as it happens.
Police say he allegedly used the money to buy cars, food and other personal items.
Officers arrested the man on Friday and he is facing 18 fraud-related charges.
More on Crime
- Man in critical condition after setting himself on fire near NYC courthouse
- ‘They knew’: Victims of sexual abuse by Ontario youth leader sue Anglican Church
- Arrest made after police issue emergency alert about ‘dangerous man’ in Bible Hill, N.S.
- Trump trial set to hear opening statements Monday as another delay denied
Comments