An Iroquois Ontario man, 73-year-old, faces fraud and forgery charges after allegedly selling a pair of yachts, taking the buyers’ money, and never delivering the boats.
The investigation involved Ottawa police, Ontario Provincial Police and the FBI.
Police said the first fraud allegedly occurred in 2017 when a couple living in the United States bought a yacht from the man.
They signed a contract and sent along a “considerable deposit,” but the vessel never showed up.
Fraud exceeded $1M: police
Three years later, a Toronto man got in touch with a yacht broker who seemed to offer his boat for sale.
According to police, the man and the broker took the yacht for a spin on the water. Afterward, the man signed a contract and handed over the money — but just like in 2017, the vessel was never delivered.
In all, the two complainants ended up being out more than $1 million.
The man, who operated a company called the South Dundas Waterfront Development Corporation, has been charged with:
- Two counts of fraud over $5,000.
- Two counts of uttering a forged document.
- Two counts of laundering Canadian proceeds of crime.
- Two counts of possession of stolen property.
He was scheduled to appear in court on Wednesday.
The Ottawa Police is asking anyone who believes they have information on this crime or who may have also been a victim can call their organized fraud unit at 613-236-1222, ext. 5460, or Crimestoppers at 1-800-222-8477.
This article was originally sourced by www.cbc.ca.