Three more people have been arrested, including one in Mississauga, as provincial police continue their investigation into a 2025 investment scam that defrauded a victim of $500,000.
The most recent arrests happened on Sept. 4 and Sept. 10 when Wellington County Ontario Provincial Police officers carried out search warrants in Vaughan and London, respectively, according to police reports on Tuesday.
On April 16, police made another arrest related to this case by taking someone into custody after executing a search warrant at a location in Mississauga.
Earlier on March 27, officers raided a home in Brampton and arrested another suspect.
The four arrests are part of an ongoing fraud investigation by the Wellington County OPP that began back in October 2025 when they started looking into an investment scam involving a victim from Puslinch Township, located south of Guelph.
Authorities believe the victim lost around $500,000.
Further investigations led the Ontario Provincial Police to uncover evidence indicating money laundering activities.
During the March 27 search warrant execution in Brampton, police found a significant amount of Canadian cash along with high-end clothing and purses, various electronic devices, and personal documents, according to an OPP news release on Tuesday.
In their latest operation on Sept. 10 in London, officers seized “offence-related property,” which included several electronic devices and various documents valued at approximately $8,000, police reported.
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Basit Balogun, aged 29 from Brampton is facing charges for:
Laundering proceeds of crime. Possession of proceeds of property obtained by crime over $5,000. Fraud over $5,000.
Olufunmi Ogunbayo, aged 34 from London who was arrested in Mississauga is charged with:
Possession of property obtained by crime under $5,000. Laundering proceeds of crime.
This individual was released from custody and is set to appear in court on Oct. 23.
Samuel Owoade who is aged 28 from Vaughan faces charges for:
Fraud over $5,000. Possession of property obtained by crime over $5,000. Laundering proceeds of crime.
This accused person has also been released from custody and will appear in court on Nov. 27.
Babatunde Ogunbayo who is aged 31 from London faces charges for:
Laundering proceeds of crime. Possession of property obtained by crime over $5,000.
This individual remains in police custody and had their first court appearance on Sept. 11.
The investigation is still ongoing as per police statements.
If anyone has information regarding this incident they are encouraged to contact Wellington County OPP at 1-888-310-1122 or reach out to Crime Stoppers anonymously at 1-800-222-8477.
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