A fraud investigation has led to the arrest of a Burlington man.
The HRPS says the accused was an investment industry professional who worked for a financial company that was registered with the Investment Industry Regulatory Organization of Canada (IIROC). Between 2011 and 2016, two victims invested a total of roughly $1.6 million with the accused to purchase insurance and other investments. The accused diverted the funds he received from the victims to his own bank accounts.
The Halton Police adds that the fraud was discovered in 2016 when the victims learned that the accused had entered into a settlement agreement with IIROC which resulted in a permanent prohibition on registration with IIROC.
On Wednesday, March 17th, the Halton Police arrested and charged 47-year-old Brian Kumar of Burlington. He was charged with:
- Fraud Over $5000 (3 counts)
Kumar has been released on an undertaking.
Anyone with information regarding this investigation is asked to contact Det. Constable Kevin Barkhouse of the Halton Regional Police Service – Fraud Unit at 905-825-4777 ext. 8912.
Tips can also be submitted anonymously to Crime Stoppers. “See something? Hear something? Know something? Contact Crime Stoppers” at 1-800-222-8477 (TIPS) or through the web at www.haltoncrimestoppers.ca.
