A resident of Brampton is facing charges after a man from Guelph was scammed out of over $31,000.
The fraud incident started last summer when the victim met a man through a mutual friend, according to a press release from Guelph Police today.
The victim wanted to apply for a business loan, and the other man offered assistance with the application process, police said.
According to authorities, they set up a registered company together and opened a bank account for it. During this time, the victim shared personal information including his banking details and social insurance number.
In December, two unidentified individuals deposited several fake cheques into the account and quickly withdrew the funds before the cheques could bounce. This left the victim’s account with a negative balance exceeding $31,000, police reported.
When the victim tried to reach out to the man who helped him open the account, he stopped responding.
On Monday, a 33-year-old man from Brampton was arrested and charged with committing fraud over $5,000.
He is scheduled to appear in court on June 2.
The police have not disclosed the name of the person charged.
Lead photo: Kindel Media
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