The Toronto Police Service is making the public aware of an arrest made in a Fraud Over $5000 investigation.
It is alleged that:
Between January 2022 and September 2022, a man posing as an investment broker would convince victims to invest money with the promise of large returns
the man would then advise the victims that he lost their investments, and they would have to sue him to obtain their investments
the victims would never obtain any money
It is further alleged that:
Between November 2024 and January 2025, the man would pose as a contactor and advise victims that he could repair their roof for a discount
the man would obtain a deposit, and then never begin the work
victims would never obtain their deposit back
Georgios Sakellaris, 42, of Toronto has been arrested and charged with:
six counts of Fraud Over $5000
six counts of Possession of Property Obtained by Crime Over $5000
six counts of Launder Proceeds of Canadian Currency
three counts of Fraud Under $5000
He is scheduled to appear in court at the Ontario Court of Justice, 10 Armoury Street, on Monday, January 13, 2025, at 10:00 a.m., in room 106.
Investigators believe there may be more victims. An image has been released.
Residents are reminded to use caution when solicited for any service and not to share personal information with people unknown to them.
Suspects often target elderly and vulnerable citizens using high-pressure tactics to commence work immediately. They usually demand payment in the form of cash or bank draft.