Waterloo Area, Ontario – Waterloo Regional Police Service has arrested and charged a male in connection to a large-scale funding fraud investigation.
In March 2023, investigators from WRPS’ Common Investigations Unit – Industrial Fraud started an investigation into an ongoing funding fraud.
All through the 14-month-long investigation, WRPS investigators collaborated with different companies, together with the Monetary Transactions and Reviews Evaluation Centre of Canada (FINTRAC), and recognized 23 victims from throughout Ontario who sustained losses of over $1.4 million.
On Might 7, 2024, because of the investigation, police arrested and charged David Villanueva, a 62-year-old Guelph male, with:
Fraud Over $5,000
Make False Assertion in Writing
Laundering Proceeds of Crime
The accused was held in police custody for a bail listening to.
Police consider there could also be different victims and are asking anybody with info to contact police by calling 519-570-9777, extension 6420.
When making choices relating to investing, Waterloo Regional Police Service encourages members of the general public to think about the next to assist stop changing into a sufferer of fraud:
Be cautious of upper than regular returns on investments.
Analysis any funding alternative you’re contemplating, in addition to the corporate or individual you’re coping with.
Maintain detailed data.
Examine the legitimacy of the funding by means of regulatory websites.
For extra details about fraud prevention, please go to the Canadian Anti-Fraud Centre at https://wrps.data/3TvkAuG.
WA23030916 (915)
Media Inquiries:
Waterloo Regional Police Service
Public Info Unit
519-570-9777 (WRPS) ext. 8188
[email protected]
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