Toronto police say they have arrested a second man in connection with an alleged Ponzi scheme that took in nearly $1 million.
They allege the second suspect is a 74-year-old man who worked with a 66-year-old portraying himself as an investor on social media between 2009 and 2017.
Get daily National news
Investigators say the 66-year-old, who was arrested last week, allegedly persuaded people to provide up to $500,000 to invest in companies they were told he worked for or owned.
READ MORE: Toronto police arrest man in connection to alleged Ponzi scheme that took in nearly $1 million
- Ontario SIU investigating fatal crash after attempted police traffic stop
- Quebec man arrested by N.L. police, accused of making bomb threat at Labrador airport
- Former Ontario lawyer charged, accused of defrauding victims of $4.3M
- Suspect wanted for attempted murder after Mississauga double stabbing: police
-
![]()
Man wanted for allegedly killing his mother surrenders to police in front of news camera -
![]()
Manhunt underway following deadly shooting at Switzerland rave -
![]()
Calgary police charge 3 people in connection with robbing, kidnapping of 31-year-old-man -
![]()
Man sentenced to over 10 years in prison in Moss Park mass shooting
Police say he allegedly used the money to buy cars, food and other personal items.
Investigators allege the second suspect was just as responsible for the scheme as the first.
He was arrested on Tuesday and is facing 18 charges related to the investigation, including five counts of fraud over $5,000.
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.