Investigators with the York Regional Police Financial Crimes Unit have laid fraud charges in an investment scam investigation and believe there may be additional victims.
The investigation began in March 2025, when a victim came forward to report an investment scam.
In February 2024, the victim invested a quantity of funds through the suspect, who owned Equity Line Service Corporation, and was promised a return on their investment.
In February 2025, investigators learned five additional victims had also invested a quantity of funds with the same suspect. It is believed the suspect misappropriated the invested funds from the victims for personal gain.
In total, over $2.5 million was invested through the suspect.
After a thorough investigation, Sergiy SHCHAVYELYEV, 40, of the City of Toronto, was charged on December 9, 2025, with six counts of Fraud Over $5,000.
Investigators are releasing his photo as they believe there may be additional victims and encourage them to come forward.
Anyone with information is asked to contact the York Regional Police Financial Crimes Unit at 1-866-876-5423, ext. 6612, or Crime Stoppers at 1-800-222-TIPS. Anonymous tips can also be sent online at www.1800222tips.com.
Crime prevention is our shared responsibility: Find up-to-date crime data in York Region on the Community Safety Data Portal, or become a partner in community safety by signing up for the Security Camera Registry today.
Prepared by: Constable Kevin Nebrija
25-88214
March 6, 2026
