York Regional Police say a 42-year-old man has been charged in relation to a $20-million fraud investigation that began in 2017.
Police said the suspect ran an investment company called New Horizons Mortgage Investment Corporation between 2004 and 2017.
The investigation began after a woman told police she was the victim of a mortgage investment fraud.
Officers alleged the accused defrauded 33 victims of approximately $20 million.
Derek Scheinman was arrested at a hotel in Barrie on July 31. He was charged with defrauding the public, fraud over $5,000, possessing the proceeds of crime, laundering the proceeds of crime, and falsifying documents.
Scheinman was scheduled to appear in a Newmarket court on Friday.
Police said the investigation is on-going and anyone with information was asked to call police at 1-866-876-5423 ext 2486 or Crime Stoppers anonymously at 1-800-222-8477.
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