< Ontario man returned to Canada to face charges in $56M debit terminal Ponzi scheme - Canadian Fraud News Inc. | Fraud related news | Fraud in Canada

Ontario man returned to Canada to face charges in $56M debit terminal Ponzi scheme

March 4, 2021 – A Barrie, Ont., man has been deported to Canada from the Dominican Republic and charged following what’s believed to be a $56-million debit terminal Ponzi scheme that defrauded hundreds of victims. Ontario’s Serious Fraud Office (SFO), which investigates and prosecutes complex fraud and financial crimes, says the scheme started in 2012 in Barrie and that more than 500 known victims suffered losses of more than $24 million. Global News reports. | READ MORE