March 10, 2021 – Just in time for the start of Fraud Prevention Month, Toronto police have announced the arrest of four people wanted in a wide-scale fraud investigation. This investigation, which was launched in February 2020, stems from several complaints received by 52 Division pertaining to a suspected employment scam targeting victims in the Greater Toronto Area. As a result, members of that division, in collaboration with the fraud and major crime units along with the financial crimes unit’s mass marketing section, kicked off Project Drop.
Investigators allege suspects were running a “sophisticated scam that included repeatedly sending out hundreds of thousands of SMS text messages to cellular phones across the GTA.” Police said these texts advertised jobs for couriers who would deliver loans for a small, GTA-based lending company. Victims were reportedly instructed to pick up and deposit what they believed to be legitimate business cheques. They were then expected to pay funds to other individuals in cash, Bitcoin or e-transfer. Toronto police said, in the end, all of the cheques were found to be “well-made forgeries.” Investigators were able to identify four suspects believed to be responsible for the fraud. Toronto.com reports. | READ MORE