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CHARGES LAID IN $20 MILLION DOLLAR INVESTMENT FRAUD INVESTIGATION

Posted on Friday August 09, 2019

 

 

Investigators with the York Regional Police Financial Crimes Unit have charged a 42-year-old man in an ongoing investigation into investment frauds.

An investigation began in 2017 after a victim came forward reporting she had been a victim of a mortgage investment fraud. Investigators learned that from 2004 to 2017, the suspect ran an investment company called New Horizons Mortgage Investment Corporation.  Through the investigation, officers determined there were 33 victims who were defrauded of a total of $20 million dollars. 

On July 31, 2019, the accused was arrested at a hotel in the city of Barrie.

Charged:

  • Derek SCHEINMAN, 42, of no fixed address

Charges:

  • Defraud the Public
  • Fraud Over $5000
  • Possession of the Proceeds of Crime x2
  • Laundering Proceeds of Crime x2
  • Falsification of Documents

The accused is scheduled to appear before the Ontario Court of Justice in Newmarket on August 9, 2019.

This investigation is ongoing. Anyone with information is asked to contact the York Regional Police Financial Crimes Unit at 1-866-876-5423, ext. 2486, or call Crime Stoppers at 1-800-222-tips or leave an anonymous tip online at www.1800222tips.com.