Update (December 10, 2020): After Jafry’s last arrest, more victims became aware of a large number of unauthorized withdrawals being diverted to a numbered company associated with Jafry and contacted the Peel police. On December 10, Jafry was arrested again and charged with Fraud Over $5000. He was released with conditions and is scheduled to appear in court on February 22, 2021.
To date, the total amount defrauded from victims is approximately $151,000. Jafry is believed to have made many business associations across the GTA. Police believe there may be more victims and they are being asked to file a report with the police.
Greater Toronto Area (July 14, 2020) – The Peel Regional Police arrested businessman, Syed Jafry, for fraud. He is accused of duping the customers of his businesses out of $131,000 while installing point of sale machines and has been charged with defrauding the public. Investigators believe there may be more victims.
Investigators of the Peel Regional Police’s Fraud Bureau arrested Innisfil businessman, Syed Jafry, for fraud, according to a press release issued on July 14. Jafry has been charged with defrauding the public.
Defrauding the public of $131,000 using payment machines
The police allege that Jafry attended multiple businesses selling and installing so-called point of sale machines (POS) throughout the Region of Peel and in Toronto. A POS system is the hardware and software that allows a business to process customer payments such as cash registers, credit card readers, and similar devices. The police allege that Jafry received the victim’s business banking information during the installation of his POS systems.
Between March 1, 2015, and July 15, 2018, various businesses became aware of a large number of unauthorized withdrawals. The police found out that the money was redirected to a numbered company associated with Jafry. According to the press release, the complaints from the victim businesses totals to date approximately $131,000. The police believe that Jafry has associations across the GTA.
On July 7, Peel police arrested Jafry and charged him with Defraud the Public. Police have not disclosed to the public the conditions of his release other than that he is scheduled to appear in the Ontario Court of Justice in Brampton on September 14.
Request for other victims to file criminal complaints and file civil actions
Police investigators believe there may be more victims who have not come forward yet. They are encouraged to contact the police. Anyone with information is encouraged to contact Peel Regional Police fraud intakes at 905-453-2121 ext. 3342, or leave information anonymously by calling Peel Crime Stoppers at 1-800-222-TIPS (8477).
Victim corporations are also encouraged to file civil actions for recovery purposes. Anyone who wishes to file a civil claim against Jafry and his company is encouraged to contact the fraud recovery law firm Investigation Counsel PC at 416-637-3150 or by email to email@example.com.
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