Car Dealership in Mississauga Suspended Over Alleged Forgery and Fraud

A Mississauga dealership is allegedly involved in fraud and forgery. Allegations include odometer tampering according to investigators. The complete list of reasons for suspension name illegal sales, odometer tampering, suspected forgery, and fraudulent vehicle transfers.

Suspended Business Dealings

The Ontario Motor Vehicle Industry Council issued a suspension for dealer Kajendan Kasippillai of KK Motors Canada, resulting to the dealership located in 6295 Mississauga Road Unit 215A not being allowed to legally lease, buy, sell, or consign vehicles for at present time. Kasippillai insists that the allegations are wrong and are just a big misunderstanding.

Investigation Results

The Ontario Motor Vehicle Industry Council found that KK Motors Canada purchased write-offs from salvage auctions. The vehicles are then repaired and sold to consumers by unregistered businesses or individuals who are connected with KK Motors.

It is believed by OMVIC that KK Motors Canada forged documents and transferred the vehicles to the names of past customers before putting up the vehicles for sale by individuals and unregistered businesses connected to them. OMVIC CEO and interim registrar John Carmichael came to this conclusion because the majority of the purchasers have not heard of KK Motors and thought that their purchase of the vehicles were private deals. As of today, none of the allegations against KK Motors or Kasippillai have been proven.

OMVIC found out that out of the 13 vehicles they have investigated, 6 have rolled back odometers. This is supported by the fact that a 2007 Honda Odyssey sold by an associate of KK Motors in June only had an odometer reading of 141,411 kilometres despite the odometer reading 335,230 kilometres 4 months earlier from the same vehicle. Carmichael says OMVIC is alleging that the manipulation of the odometers for fraud was done by KK Motors or was done in behalf of KK Motors. As of now, the investigation for the individuals and unregistered businesses that are associated with KK Motors for selling vehicles are still ongoing.

History of Fraud?

KK Motors Canada was in fines $1,500 in 2012 for breach of the Motor Vehicle Dealers Act for advertising a vehicle but failing to disclose in the advertisement that it had been placed by a registered dealer. The dealer was also found to have breached OMVIC’s code of ethics in 2014 for which they were fined $5,000 for failing to properly provide information regarding the past use, history, and condition of the vehicles they sold and not including significant repair histories and involvement in accidents.

Note that OMVIC usually only issues an immediate suspension when they believe that a vehicle dealer may be involved in actions that place the car-buying public at risk.

This case will now go to the License Appeal Tribunal. Kasippillai expressed that he will dispute the allegations and that he will attend the hearing to ensure that his license will be reinstated. In relation to this, OMVIC encourages anyone who’ve purchased from Kasippillai or KK  Motors Canada to have their vehicles inspected by a mechanic for possible issues that were not disclosed by the KK Motors and their associates.

Have you bought a vehicle from KK Motors Canada or bought a vehicle with a dubious history? Talk to us to find out what actions you can take against the seller and protect yourself from fraud. Our private investigation services can help you gather information for building a possible case. Contact us today!

 

 

Ex-Mississauga MP Involved in $1.1M International Investment Fraud as Charged by RCMP

Ex-MP Wajid Ali Khan faces 7 charges – namely, 3 counts of false pretense, 1 count of uttering of a forged document, and 3 counts of fraud. He borrowed an amount exceeding $1.1M from his personal contacts in Canada for the purpose of buying investment properties for said contacts in Pakistan. 48 years old Nadeem Imtiaz Ahmed is accused with him.

International Investment Fraud

Wajid Ali Khan, Former Mississauga-Streetsville MP has been charged for international investment fraud by the RCMP. 71 year old Khan was charged together with Nadeem Imtiaz Ahmed for borrowing $1.1M from personal contacts telling them that the money will be used to purchase investment properties in Pakistan in their name.

Ahmed faces 5 charges for his involvement while Khan was charged with 1 count of uttering a forged document, 3 counts of false pretense, and 3 counts of fraud, a total of 7 charges.

3 Years of Investigations

RCMP received complaints regarding Khan’s wrongdoings in 2015 and launched an investigation immediately though charges were only recently laid. The investigation was carried out by the Sensitive and International Investigative Section, an arm of RCMP that focuses on criminal activity that imperils Canada’s social, economic, and social integrity, or that poses a threat to Canada’s public officials, government institutions, and integrity of the Crown.

Fall From Grace

Former MP Khan made headlines in 2007 for leaving the Liberal Party and joining the Conservatives; and again in 2009 when he left politics for good. He reportedly made the cross to continue acting as special adviser on Middle East and Central Asia for then prime minister Stephen Harper.

Khan was an esteemed member in the GTA’s Muslim and Pakistani communities and was first elected in 2004 to the House of Commons. He was elected again in 2006 before retiring in 2009.

Khan said that after retiring from politics, he planned to pass his time promoting Canadian businesses worldwide as well as managing his assets in Edmonton, the GTA, and Pakistan where he served as an officer and pilot from 1966 to 1973.

Prevention Is Better Than Cure

RCMP Supt. Denis Desnovers stated in a press release that recognizing a scam is crucial to prevent it from happening. He added that swindlers often claim affiliation with trustworthy sources, provide truthful-sounding answers to tough questions, and attempt to cover the truth in the fine print. He capped his statement by saying that if a deal seems too good to be true, then protecting one’s self with facts and skepticism is necessary.

Supt. Desnovers’ warning should be heeded by everyone. There is no telling whether an opportunity is real or a scam just by association. Learning to be discerning, asking the right questions, and having a skeptical mind is of great value these days, more so when dealing with anything involving money.

Fraud is everywhere and the next victim could be you! If you need assistance investigating a possible fraud or want to have appropriate fraud prevention protocols for your business, contact us at Haywood Hunt!

Mississauga Residents Target of Utility Company Phone Call Scam

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People from all over Mississauga are reporting that they’ve been getting unsettling phone calls from someone who claims to be working for a local utility company.

Crafty Calls

Alectra Utilities recently announced that they are aware that their lines are being used in a telephone scam that’s targeting people in their service area. They shared that their residents have been getting threatening calls from individuals who are claiming to be workers of utility companies. The threats usually involve telling the targeted individual that their electrical services will be disconnected if they do not provide payment right away via a cheque cashing service.

Alectra further shared details of the calls, saying that the fraudulent calls work when a customer picks up the call and then a fake utility worker instructs the victim to make immediate hydro bill payments by visiting a cheque cashing service or else their utilities will be cut off in a few hours.

A similar type phone scam targets both business and residential customers and asks them to purchase prepaid credit cards to cover their supposedly outstanding utility bills. They are then asked to call a specific number to provide the card details as well as a personal identification number to make the payment on their account. A fraudulent voice recording answers the call, further tricking victims into thinking that they’ve indeed reached the utility company’s billing department.

Warnings Sent Out

Alectra  Utilities want all customers to know that they will never ask for prepaid card payment for outstanding balances. They also want to inform customers that they handle disconnections for non-payment before 4 p.m. on weekdays (or could be anytime during holidays or weekends) and that they do not do disconnection outside of that schedule.

As of now, Alectra Utilities is still working with the authorities to investigate these cases and to find out who are the people behind the scam.

Avoid Getting Scammed

Alectra Utilities advises the following actions should you receive a suspicious phone call:

  • Refrain from sharing any information of a personal nature. This includes your utility account numbers and credit card details.
  • Note all information from the caller. Get the caller to give you as much unfortunately as possible.
  • Immediately report the incident by contacting Alectra Utilities’ Customer Service office during business hours.
  • Do not entertain calls that require you you send money by untraceable means.
  • Consider having caller ID if you do not have one.
  • Only pay through typical payment channels (no prepaid credit cards!).

Do not forget to report to your local police department as soon as possible if you suspect that you’ve been a victim or a target of the scam. Your prompt action is crucial more so now that crooks are getting smarter with using technology,

Do you know someone or perhaps a business that needs professional private investigator? Need assistance on determining if scammers are targeting you? Contact us at Haywood Hunt so can immediately plan the right course of action.

Trending Grandparent Scam, Targeting Mississauga Residents Anew

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It is easy to lose one’s common sense when a loved one is in trouble, and that is what fraudsters are banking on as the notorious grandparent scam hits Mississauga once again.

A New Type of Grandparent Scam

Peel police are warning residents in Brampton and Mississauga about a new type of grandparent scam that’s been recently discovered by the force’s fraud bureau. The term ‘grandparent scam’ is used because the fraud is specifically targeting seniors.

The police shared that the scam starts with a phone call to the victim. The scammer pretends to be a family member (usually a grandson) and asks the targeted victim to purchase an expensive watch (usually a Rolex). The fraudster claims that the purchase is for paying a debt. Another version is that the purchase is for a gift. Once the purchase has been made, the victim is directed to send the watch to a Quebec address using a courier service.

The scam is so successful because targeted victims are told by the fake family member that this is a matter that must be kept a secret from other family members.

Clear Warnings Given

Residents are being asked by the police to verify details of requests like the one described above with other family members before sending any form of material thing. Residents are warned that phone calls asking for money and/or gifts must be treated suspiciously.

In some instances, the scammer would ask for a gift card instead of money or an expensive item. To save on shipping fee, the scammer would then ask for the code or serial number over the phone.

Police shared that the common targets are elderly or retirement age individuals who live alone and have a publicly published phone number. If you or someone you know is a possible target, be sure to read the next section.

Tips to Avoid the Scam

Avoiding any sort of grandparent scam is quite easy if you heed the following tips:

  • Lawyers and law enforcement will not ask for your jewellery or other valuables over the phone.
  • Any request for money should be treated with caution unless the person is exactly who she is or he is and the request was made in person.
  • Before filling up forms in websites, make sure that you are at the right site.
  • Do not send money to a stranger.
  • Note that games and lotteries do not ask winners for fees.
  • Protect your banking and mailing details. Do not share over the phone.
  • Do not share private information such as your name or bank details online such as in Facebook.
  • Read up on the latest scams and fraud targeting Canadians at www.antifraudcentre.ca
  • If you suspect that someone may be running a scam or trying to defraud you, contact the Fraud Bureau at (905) 453-2121, ext. 3335

If you suspect that you or someone is being targeted for a scam, the first thing to do is to calm down so that you can gather information that you can report to the proper authorities. Note what the suspected fraudsters are telling you to do for reporting later. You can also ask for our private investigation services. Contact us soonest so we can discuss how we can help you more.

Mississauga Business Owner Facing Serious Charges Regarding TTC Fraud Case

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A business owner from Mississauga is currently facing serious charges regarding a benefit fraud case that targeted the Toronto Transit Commission and Manulife.

Most of us would trust someone who owns a legitimate business not to do anything that can jeopardize the said business, but this doesn’t seem to be applicable to one Mississauga business owner.

2 Years in the Making

In a case that spans 2 years starting with a police report that was filed in the first month of 2015 when Manulife and TTC submitted a complaint about some alleged false medical claims that were being filed through Health Fit, police found out that the business owner is involved in some shady activities.

The company Health Fit is a Toronto and Mississauga-based business that provides medical services and products. Charges are now ongoing after the police found out some key details after a lengthy investigation.

Similar Incidences

The 2015 complaint wasn’t an isolated incident. Less than a year ago, in November 2016, a similar complaint was reported by Manulife on behalf of the city of Toronto.

The police that the owner of Healthy Fit, 46-year old Adam Smith from Mississauga, allegedly conspired and counseled with some TTC employees to file a total of about $5 million in claims to insurance provider Manulife. Another Healthy Fit employee is also said to be involved in the fraud.

Police also shared that the fraud involved fake invoices for products and/or services that were never bought or rendered and then the money was split with the customer. The police added that the fraudsters allegedly pulled off the same type of fraud on the City of Toronto.

In the scam that targeted the city of Toronto, several City of Toronto employees allegedly submitted about $96,000 worth of claims to Manulife. The money was then split between the accused and the involved city employees.

Charges Are Filed

As of today, several individuals have been filed with charges on fraud that are connected to the cases above. Smith was charged with several serious charges: conspiracy to commit an indictable offence (or fraud over $5,000), two counts of fraud over $5,000, and money laundering proceeds of a crime. 32 year-old man from Toronto, Savath Nget, a Healthy Fit employee, was also files several charges.

Aside from the above, 10 TTC employees were also charged by the Police. They are Lisa Dixon, 47 year old woman from Toronto, Ahmed Kabba, 58 year old man from Ajax, Douglas Docherty, 47 year old man from Bowmanville, Corey Newell, 48 year old man from Toronto, Alfred Metri, 51 year old man from Pickering, Ishmael Yankson, 40 year old man from Brampton, Novella Williams, 32 year old man from Toronto, Joao Sousa, 45 year old man from Bradford, and Glenn Saunders, 51 year old man from Stouffville.

It never pays to be involved in fraud of any sort. If you have been a victim of one or know something about an ongoing fraud, contact us to know more about how our private investigation services can help.

Police Warn of Scam That’s Targeting a Specific Community in Mississauga

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It’s one thing to be targeted by scams as a business, but it just hits too close to home when your community is the scam’s target. Peel police have been alerted of such a scam that has been targeting a specific community in Mississauga.

Word of Warning

Residents in Mississauga have been warned by the Peel Regional Police Fraud Bureau that a scam knows as “Emergency Scam” has been going on in the area. The scam’s target are the elderly Polish-speaking residents of the area.

Beware of Clever Hoaxes

The scam tricks residents by using emotional blackmail and faking an emergency. Usually, a fraudulent individual calls the victim and would claim to be a family member such as a child, grandchild, or a relative. This is then followed by the suspects telling the victim that he or she is in some trouble and is in dire need of immediate financial help. The fraudster then reiterates that the matter is urgent and that no other family member can know about what is going on.

Another variation of the scam is where the fraudster will claim to be a concerned police officer or an attorney that is representing the loved one who is in trouble.

The police shared that the above claims are often followed by a range of stories that are all carefully crafted to elicit concern and sympathy. Some stories tell of the impostor relative being in a car crash or being arrested for drunk driving. Some versions talk of being trapped in a foreign country or being in the hospital with an injury or illness. Some stories share of winning the lottery and needing help paying taxes to claim the prize money.

Victims are often instructed to leave valuables or money to the fraudster’s appointed person. All of these happen via phone.

How to Avoid Being Scammed

Residents are being reminded by police that details like the above should be verified with the real family member before helping out and that all requests for help or money via phone by unverified parties should be dealt with cautiousness.

The following are more anti-scam tips that were provided by the police:

  • Note that a lawyer or a police officer will usually not ask for money via a phone call.
  • If you have relatives or elderly family members that live alone, they must be made aware of this scam.
  • Be aware that there are many scams that work over the phone or the internet and that many suspects usually scout their victim’s social media profiles for information. Protect your social media details.
  • Any request for money should be carefully evaluated and verified.
  • Should you receive an emergency call, it is important that you stay calm and check details with a relative or a friend before taking action.
  • Stay informed by visiting antifraudcentre.ca or reading current Toronto news articles.

Note that anonymous tips can be shared with the proper authorities by visiting www.peelcrimestoppers.ca or by calling Peel Crime Stoppers at 1-800-222-TIPS (8477). Alternatively, you can contact the Fraud Bureau at (905) 453-2121, ext. 3335

Suspect that you’re a victim of fraud but can’t dig up for information by yourself? Our private investigation services at Haywood Hunt can help you! Contact us as soon as possible.

 

Mississauga Residents Must-Knows About the Do Not Call List

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Peel Police have been warning people for a few months now about the numerous ploys used by scam artists, including the fake calls from the CRA (Canadian Revenue Agency) demanding people to pay fabricated outstanding tax obligations…but question is, where are these calls coming from? How do scammers get someone’s phone number?

With phone scams are seemingly everywhere these days, people are understandably losing patience with cold calls. It is no wonder that telemarketers from legitimate companies such as Visa, Bell, and Rogers are facing abuse from the people they call.

It goes without saying that some people are willing to hear out cold calls and would usually end the call graciously but a significant percentage of Mississauga residents don’t want to be bothered by calls from various companies. For these Mississauga residents, Peel Police suggest using the DNCL or Do Not Call List.

What is the Do Not Call List?

The DNCL provides an option for consumers to decide if they don’t want to get telemarketing calls or if they are open to it. When you register your VOIP telephone number, fax, wireless, or residential phone number in the National DNCL, you will receive reduced telemarketing calls.

It does sound great, but does it work?

Yes; but it should be noted that registering in the DNCL is only a way to reduce and not totally eliminate telemarketing calls. The DNCL website also allows you to take a look at your registration status, file a complaint about receiving telemarketing calls, and also find the instructions on how you can remove your phone number on the list.

Now, as mentioned earlier, telemarketing calls won’t be eliminated. This is because some organizations are still allowed to contact you. These organizations include:

  • Newspapers that are looking for subscribers
  • Organizations that you’ve permitted to contact you
  • Political parties, riding associations, and candidates
  • Organizations that have an existing business relationship with you
  • Canadian registered charities

One last thing is that telemarketing calls made to businesses are exempt from DNCL rules. This applies to Mississauga as well.

How to Stop Receiving Unsolicited Calls

To stop receiving calls from organizations and companies that are technically permitted to call you, you can simply ask to be included on their internal Do Not Call List. Please note that such companies and organizations are not obliged to respect your request and that companies dealing with surveys and research are exempt from DNCL because their calls do not count as marketing calls.

Aside from registering for the national DNCL, you can look into call management options that are often offered by phone service providers in Mississauga. Some can screen telemarketer calls so that they go to your voicemail. Another way is to get an unlisted phone number and perhaps being extra cautious about who you give your contact details too. Services like these are available to Mississauga residents.

To register for the DNCL, simply go to this page http://www.crtc.gc.ca/eng/phone/telemarketing/infograph03.htm

Worried that you may be being targeted for fraudulent calls in Mississauga? You can avail of private investigation services to seek answers! Contact us at Haywood Hunt to know more about how we can help you.

Mississauga Scam Alert! Scam Artist Sighted Active in Mississauga!

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Mississauga residents are being warned that a known scam artist has been reportedly active again in the area. The scam artist usually claims to be in distress and then offers complimentary services and perks to companies he has no connection with in exchange for cash.

The scammer, a middle-aged man, has been spotted in Mississauga and Brampton. A whole Reddit thread has been dedicated to the scammer.

Mississauga Businesses Are Targets

A local business based in Mississauga and Brampton recently reported that the scammer is active again and seems to be targeting their operation. Brampton rustproofing company Krown Rust Control’s representative reached out to website insauga.com to inform them that the scam artist that has been mentioned in their previous article has been reportedly offering fake services and fraudulent discounts from Krown Rust Control.

The company’s vice president Jeremy Young said that they’ve had 5 issues in the last few months concerning people who claim that they gave some cash to a man in need after a promise of a free application at Krown Rust Control.

Confused customers are also calling Brampton’s Krown location, stating that they will be getting free service after helping the man who claims to be the owner’s son. Mohamed Ali, the branch’s owner, shared that this same thing has been happening for about a year now.

Dramatic Scammer Antics

The scammer’s antics has been such a nuisance that Ali has started to show customers some available photos of the alleged scammer to find out if that particular individual is the person who approached them. Most of them answer yes.

The customers share different stories about the same man. One customer shared that the scammer approached him asking for help because his car broke down and that he has to pick his kids at the babysitter’s place. Another customer reportedly gave the man $120 after the alleged scammer approached him and said that he has an emergency and needs to get to his wife who is in the hospital. In all these cases, the scam artist offered the good samaritans some discounts and free service at businesses he claims to be connected with.

The stories that the man shares tend to change with whoever he is talking to. Sometimes it is about needing money to pay for a taxi because of an emergency at home, sometimes it is about having to pick up his child, and sometimes it is about him being a student at Sheridan College who can offer free services at Krown Rust Control as compensation for ‘help’.

What to Look Out For

It should be noted that the man has varying claims of being from Etobicoke and sometimes, from Mississauga.

The scam artist has also been reported to be seen with a young woman named Anna who he claims to be his wife. Most of the time, though, he will approach unsuspecting people on his own.

It is common for the scam artist to generally try to scam people upwards of $40 to $50. Peel police Const. Paolo Carretta shares that the authorities may be prompted to act against the man because there seems to be an emerging pattern of criminal behaviour. Previous victims are encouraged to share their experience with the police. Meanwhile, he urges Mississauga and Brampton residents to be as careful as possible.

Worried that your business is being targeted by scammers just like what is currently happening to Krown Rust Control in this scam? Our Ontario private investigators can help! Contact us at Haywood Hunt to find out which of our private investigation services will suit your needs. Initial consultation with us is obligation-free!

These Scams Might Be Targeting You if You’re from Mississauga

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Mississauga residents seem to be a target for some common scams these days. It doesn’t really matter how scam-savvy you think you are, how good you are at filtering fake emergency emails, and how smart you are in avoiding those circling fake-CRA texts that demand you pay back taxes in the thousands. There are plenty of scams out there and while you may be worldly enough to know how to dodge them, others may not be as lucky as you.

Mississauga police warn residents on almost a weekly basis to be aware of the common and not-so-common scams that are targeting Mississauga residents. Here are 5 scams that you should be aware of if you live in or anywhere near Mississauga:

Phone Scams

Aside from the fake texts from government agencies and offices, ringtone scams are becoming increasingly common. What looks like a low-cost ringtone subscription is a ploy that automatically subscribes you to an expensive service with no means to opt out of.

Other phone scams in Mississauga prompts you to call back because a caller has suddenly hung up after you’ve answered the call. This can also happen with text messages.

Romance Scams

Dating and romance scams target everyone, but they do love to set their sights on people who are from ‘nice’ neighbourhoods. While a lot of romance and dating scammers a doing what they are doing for thrill or sexual reasons, others are in it for the money.

You should be aware that some dating websites are using fake profiles to pose as other members to make you pay to sign-up. The greedier sites even charge you to send and receive messages from another member who may not even exist in real life.

Other romance and dating scams reported by Mississauga residents are a variation of the email scams wherein someone you may be talking to for a while has a sudden emergency abroad with no access to their own finances. Some will be about a sick relative or some other emergency and will make you feel so bad that you end up offering financial ‘help’.

Grandparent Scam

If you’re an elderly Mississauga resident, then you should be aware of a form of emergency scam known as the grandparent scam. In this scam, someone will pretend to be your relative or grandchild and will state that he/she is in serious trouble and need some immediate funds. This scam can be more elaborate and may involve a fake police officer or a fake lawyer who’ll speak to you on behalf of the person pretending to be your relative or grandchild.

Service Scam

Mississauga residents are also targeted by scammers pretending to be representatives of companies that provide services like cable or internet subscription. The scammer will offer the unsuspecting victim some great deals on services and ask for the victim’s financial details. The victim will then be charged with hundreds or up to a few thousand worth of fake service.

Various Internet Scams

No matter where you may be from, whether you’re from around Mississauga or somewhere else in Ontario, internet scams will follow you for as long as the internet exists. Most internet scams use malicious software to get access to your personal data and passwords and some install malicious software in your computer for other sinister reasons.

Awareness and vigilance are what we need to fight off scams. We hope that you’ve learned something from this article and share this with friends and loved ones in and beyond Mississauga.

If you suspect you may have been a victim of a scam or being targeted for one, do not hesitate to contact local authorities or a trusted private investigator firm. If you have questions regarding our private investigation services in Mississauga, you may contact us at Haywood Hunt & Associates.

Trump University’s Mississauga Couple Lecturers Fined for Fraud

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A Mississauga husband and wife team who taught Canadian courses for Trump University was found to have been involved in a lot of dubious activities via a joint investigation conducted by The Associated Press and The Canadian Press.

The couple, Dave Ravindra and Rita Bahadur, used aliases, lost a real estate licence, declared multiple bankruptcies and were involved in a multimillion-dollar fraud swindle. They taught Trump courses in Canadian cities 6 years ago.

Shady Speakers and Staff?

Prior to this, Trump assured people who were registering for his program that only the best people whom he had handpicked himself will teach the financial success courses at his facility. Still, people with spotty credentials (like the couple in this article) were found to be teaching at Trump University, both in the US and now in Canada.

In the past, The Associated Press has already reported about four convicted felons being part of the roster of Trump University’s staff and speakers. The felons included a former army sergeant who was court-martialed for molesting the 8-year old daughter of a fellow soldier and Florida cocaine-trafficker. About half of the 68 reviewed staffers have backgrounds which included home foreclosures, tax liens, credit card defaults, personal bankruptcies, or other indicators of money troubles.

Partners in Crime?

The Associated Press also has records which show that Canadian courses were taught by people masquerading as someone else but were actually Chandramattie Dave and Ravindra Dave from Mississauga, Ontario. The same couple who migrated to Canada from Guyana decades ago and whose names can be seen in provincial securities and federal bankruptcy records.

Industry Canada records showed that the couple has filed for numerous personal bankruptcies in the past, at least 4 times since 2001. It also came to light that the couple used at least 9 different names, mainly combinations of their names or a mixing of the order of the middle, first, and last name.

Last year, Ontario’s stock-market regulator found out that the couple defrauded numerous Canadian investors from 2009 to 2012. A certain ‘Dave Ravindra’ with the same home address was also found to have been stripped off of his real estate licence in Ontario before he lectured for Trump University.

Fraud Uncovered

The Ontario Securities Commission also concluded that Ravindra Dave started two investment companies about 10 years ago but those companies were never registered. The same companies sold securities without the OSC’s permission as well.

Real estate seminars were organized in Alberta, British Columbia, and Ontario by the couple. During the seminars, they urged people to invest with a promise that the fixed returns will be at least 10% per year. They were able to make 34 investors purchase CDN$5.4 million worth of unregistered securities. The investors lost most of their money, as shared by the securities regulator.

The settlement document said that Ravindra and Chandramattie were engaged in fraudulent conduct and used other people’s funds for their personal benefit.

The 2015 settlement said that of the invested money, $750,000 went to the couple’s family members, $90,000 went to their mortgage payments, $1 million went to the companies they controlled, and $150,000 paid down their credit card bills.

A former investor shared that the fraud has taken an emotional and financial toll on her family but declined to say more about the case.

The couple was given 29 penalties in the settlement agreement as a result of their actions, including a fine for $300,000, $25,000 for administrative costs, and $3.3 million to be given back to people they’ve hurt through the years. Chandramattie Dave is also now permanently banned from trading securities while Ravindra Dave is banned for 20 years. They can no longer manage investment funds or serve as officers or directors of any companies that deal with securities. We can all breathe a bit better now.

Worried that you’re dealing with the wrong sort of people? Invest in your future by getting answers with the help of private investigation services. Contact us today to find out more how we can help you against fraud. When it comes to investing, it is always better to be safe than sorry!