Ontario financial advisor charged in $1.8M fraud investigation

The Canadian Press

· Posted: Apr 26, 2025 12:27 PM EDT | Last Updated: 4 minutes ago

Police successful cardinal Ontario person laid a twelve charges against a fiscal advisor who is alleged to person stolen much than $1.8 cardinal from clients.

The Ontario Provincial Police says the section advisor is charged with defrauding the nationalist and eleven counts of uttering a forged document.

They accidental a 40-year-old man of the Township of Severn was arrested Thursday aft a 16-month investigation.

Police allege immoderate clients were asked to supply concern funds by cheque payable to the accused instead of payable to the concern company. They say roughly $1.8 cardinal is suspected to person been misallocated.

In immoderate cases, the advisor is accused of forging concern and security paperwork to fell the misallocation of funds.

Police accidental investors should regularly reappraisal concern statements and support way of each transactions to guarantee funds are directed into intended products.