Toronto Police Service
www.tps.ca
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News Release
Man Arrested in Investment Scam
Broadcast time: 04:07 PM
Date: Friday, Apr 26, 2024
Unit: 43 Division
Case #: 2023-2574219
The Toronto Police Service is making the public aware of an investment scam in which fraudsters are impersonating the investment firm Schroders.
It is alleged that:
the suspects are placing advertisements with internet search engine providers to promote various fraudulent investments
the advertisements link to fraudulent investment comparison sites, and will prompt victims to supply their name, telephone number and email address
once the information has been provided, suspects posing as representatives of Schroders Management Inc. will then call victims
suspects will then email fraudulent Schroders prospectuses and application forms to victims
suspects will offer high return on investments with seemingly little or no risk
one victim in Toronto was defrauded of over $200,000.00 Canadian Dollars
Arvinder Singh, 24, of Brampton, has been charged with:
Fraud Over $5000
Possession of Proceeds Obtained by Crime Over $5000
Launder Proceeds of Crime
He will attend court at the Ontario Court of Justice, 10 Armoury Street, on Wednesday, June 12, 2024, at 2 p.m., in room 205.
Investigators believe there may be additional victims.
Tips for prospective investors:
be wary of any cold calls and/or unsolicited persons offering investments opportunities
do not rush into making a decision. If possible, consult with a known financial planner and/or financial institution such as your home bank
contact the alleged investment company by phone to ensure the person is employed by them
conduct a Google search for any scams or complaints associated with the investment company
contact Police if you suspect you have been the victim of an Investment Scam
Members of the public are reminded to be vigilant any time they’re searching for investment opportunities.
Anyone with information is asked to contact police at 416-808-4300, Crime Stoppers anonymously at 416-222-TIPS (8477), or at www.222tips.com.
Constable Laura Brabant for Detective Constable Chaitram Persaud
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https://www.tps.ca/