Twelve people are facing 96 charges in connection to what Toronto police and RCMP are calling a multimillion dollar fraud scam.
In a Sept. 20 joint statement released with the RCMP, Toronto police announced the end of Project Briscola a three year international investigation that concluded with the arrest of the Ontario residents and the 96 charges laid
When the investigation began in 2014 police were looking into the accused fraudulently obtaining large sums of cash from leasing companies. Using exaggerated financial statements, the accused applied for leases claiming to be representatives from different companies in need of industrial machinery.
The leasing companies would provide lump sum payments to fulfill these orders and in return victims would receive equipment of low value if any equipment at all. Then the accused would stop making payment to the leasing companies. The complex scam involved money flowing through Brazil, Hong Kong and Australia
Furthermore, it’s also been stated that 16 leases were obtained fraudulently representing a $11 million loss to it the victims involved.
In their new release, Toronto police also praised the work of various international agencies to bring this investigation to a close, including U.S Homeland Security as well as the Australian Criminal intelligence Agency.
All of the accused are scheduled to appear in court at Old City Hall, on Thursday, October 26, 2017, 9 a.m.
Read the full story at Global News
This story was summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.