Police arrest 16 in Toronto-area vehicle fraud financing ring that scammed $2.85M

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March 3, 2021 (Toronto) – Police say that 16 people have been arrested in connection with a ring of vehicle finance frauds in the Greater Toronto Area. A salesperson at a car dealership is included in the arrests and the accused are facing a combined 431 charges.

Investigators say the frauds were committed by using stolen identities to buy vehicles with falsified financial loan applications. The purchased vehicles were mostly newer or high-end models, such as Mercedes-Benz, Land Rovers, Audi, BMW, Toyota, Lexus and Ford. CP24 reports. | READ MORE