Toronto police have arrested two men, and are looking for a third, after allegedly breaking up a massive greater Toronto area (GTA) fraud ring.
Police allege the trio used identity theft and fraud to fund a lavish lifestyle that included $10,000 crocodile shoes and $150,000 watches. Police also found $39,000 in cash, and about $390,000 worth of clothing, jewelry, accessories and liquor.
The men have allegedly stolen $10 million from Canadians, Canadian institutions, and people living abroad.
In the investigation, dubbed Project Royal, police allegedly seized “37 fraudulently-obtained credit cards, hundreds of pieces of presumably stolen mail, and a series of notebooks containing the handwritten identity information of approximately 5,000 GTA residents.”
Adedayo Ogundana, 45, also known as Oladipupo Ogund, of Toronto, has been charged with two counts of fraud over $5,000, 10 counts of fraud under $5,000, possession of property obtained by crime over $5,000 and possession of proceeds of crime.
Adekunle Johnson Omitiran, 37, of Toronto, has been charged with fraud over $5,000, four counts of fraud under $5,000, two counts of identity theft, trafficking identity information, possession of credit card obtained by crime, possession of proceeds of crime, and failure to comply with probation.
A warrant has been issued for Duro Akintola, 44, also known as Michie Noah, of Toronto.
Read more at 680 News
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.