A 23-year-old man from Oshawa is facing charges after allegedly conning two victims out of more than $2.5 million in an investment scam, Durham police said.Â
A 23-year-old man from Oshawa is facing charges after allegedly conning two victims out of more than $2.5 million in an investment scam, Durham police said.Â
A 23-year-old man from Oshawa is facing charges after allegedly conning two victims out of more than $2.5 million in an investment scam.
Durham police said the man told the pair of victims that he was a financial trader who promised them high returns on investments using the platform “Interactive Brokers.”
He then persuaded the victims to transfer him large amounts of money to be invested between March 2023 and 2024, police said. The fraudster told the victims to open accounts in Interactive Brokers, where he would have sole control over trading, police continued.Â
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The man convinced the victims to send the funds by showing off luxury cars and providing forged investment return statements, according to a police on Monday. He used the $2.5 million to finance his extravagant lifestyle.Â
The 23-year-old man was arrested Sunday and charged with two counts of fraud over $5,000, police said. He was held for a bail hearing.
The Durham Regional Police Department’s Financial Crimes Unit finished their investigation Sunday and took the suspect into custody.
Anyone with information is asked to contact Det. Jaciuk of the FCU at 1-888-579-1520, ext. 5353.
JS
Joshua Smith is a breaking news reporter, working out of the
Star’s radio room in Toronto. He can be reached
at joshuasmith@thestar.ca.Â
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