A Brampton man has been charged with fraud after allegedly leading someone to believe they bought Guaranteed Investment Certificates (GICs) through a legitimate investment company in British Columbia.
Just over two years ago, in June 2022, Peel Regional Police said the victim looked into GICs online, and clicked on a link for a fake company that appeared to resemble an actual investment company in British Columbia.
The victim spoke with someone he thought was a credible representative of the company, police said, and transferred $170,000.
When the victim contacted the real investment company, he learned he had been defrauded.
Police said after a joint, lengthy investigation with Vernon Royal Canadian Mountain Police, they identified John Marshall, a 62-year-old man from Brampton, as the suspect.
On Sept. 20, officers charged Marshall with fraud over $5,000 and possession of proceeds obtained by crime. The charges have not been tested in court.
Police urge the public to do their due diligence before transferring any money into online investments, and consult with either the Ontario Securities Commission or the Canadian Anti-Fraud Centre prior to investing.
Police ask anyone with information to contact the Fraud Bureau at 905-453-2121, ext. 3335, or Crime Stoppers anonymously.