Photo: Halton Police
The Halton Regional Police Service (HRPS) has charged a Brampton man in connection with a large-scale online investment scam that defrauded two Canadian victims of more than $950,000.
Investigators say the fraud began in the fall of 2024, when an 83-year-old Oakville man invested $750,000 into what he believed was a legitimate PC Financial GIC advertised through a fraudulent website. A second victim in Alberta later came forward after losing $250,000 to the same scam.
According to police, the scheme originated in England, where suspects impersonated PC Financial advisors using information taken from LinkedIn profiles. Detectives allege the overseas group worked with an Ontario-based accomplice who helped receive and transfer the stolen money. Investigators say the accused created a fake corporation, “Intact Global Inc.,” and opened multiple business bank accounts to launder the funds before sending them overseas.
Members of the HRPS Financial Crimes Unit arrested 26-year-old Inderjeet Singh of Brampton on Friday, December 5th. He is charged with:
- Fraud Over $5,000
- Possession of Property Obtained by Crime Over $5,000
- Laundering Proceeds of Crime
Singh was released on an Undertaking and is scheduled to appear in court in Milton.
Police are reminding residents to be cautious when evaluating investment opportunities, noting that fraudsters often pose as trusted professionals and use sophisticated online platforms to lure victims. They recommend verifying registration with the Ontario Securities Commission, avoiding high-pressure tactics, researching independently, and being extremely cautious with cryptocurrency transactions.
Anyone with information about this investigation can contact the HRPS Financial Crimes Unit at 905-825-4777, ext. 8739. Anonymous tips may be submitted to Crime Stoppers at 1-800-222-8477 or online.
