Belle River resident one of 12 people arrested by Toronto police in $4M fake ID scheme
‘Project Déjà Vu’ was launched in October 2022 after a financial institution reported fake accounts created by a former employee.
Toronto Police describe the crimes as “synthetic-identity credit fraud scheme.”
“They’re essentially applying for unlimited amounts of credit in fictional synthetic names,” Toronto Police Service Det. David Coffee said Monday during a news conference.
Coffee said the crimes started back in 2016 and police believe more than 680 fake identities were created since then.
Toronto police allege “hundreds” of bank and credit accounts were created at various banks and financial institutions across Ontario.
“The fraudulently-obtained credit accounts were then drawn upon by way of in-store and online purchases, cash withdrawals, or electronic fund transfers,” said Coffee. “In many cases, fraudulent payments were made into the credit account to allow them to be drawn beyond their defined limits.”
According to police, the crimes have lead to “confirmed losses” of approximately $4 million.
“This isn’t just about fraud,” Coffee said. “Accounts obtained under synthetic identities are know to facilitate other serious criminal offences including the laundering of proceeds derived from human trafficking, drug trafficking and armed robbery among other serious crimes.”
After using 20 search warrants, police seized several dozen fake documents, including government ID, and electronic templates to create false identifications.
They also seized $300,000 in Canadian and foreign cash along with hundreds of debit and credit cards.
Mian Muhammad Saud, 35, who police identified as being from Belle River, is charged with fraud over $5,000, laundering proceeds of crime and possession of proceeds of crime over $5,000.
Of the 11 other suspects, seven are from Brampton, with the remaining from Ayr, Caledon, Mississauga, Markham.
None of the allegations have been proven in court.
Police say the investigation is not over.
“We believe there are other people who are complicit in this scheme and we are working to identify them. We also believe there may be additional incidents and victims,” said Coffee.
Police are releasing the images of everybody who was arrested and are encouraging businesses owners to look through them, and report any suspicious purchases or credit applications.
Coffee said fraudulent transactions might have also been conducted through online buy and sell platforms.
CTVNews.ca Top Stories
Trump confronts repeated boos during raucous Libertarian convention speech
Donald Trump was booed repeatedly while addressing Saturday night’s Libertarian Party National Convention.
This type of screen time has the worst effect on kids: experts
According to some experts, there is one type of screen time that is continuously excessive, and it's having a severe effect on our children.
Family of toddler found dead at small-town Ont. daycare no closer to answers after year of investigation
A year has passed since two-year-old Vienna Irwin was found on the property of a home-based daycare in small-town Ontario, but her family says they are no closer to answers of what happened that day.
Grayson Murray, two-time PGA Tour winner, dead at 30
Two-time PGA Tour winner Grayson Murray died Saturday morning at age 30, one day after he withdrew from the Charles Schwab Cup Challenge at Colonial.
Humboldt Broncos crash victims and families react to decision to deport truck driver
The family of one of the victims of the Humboldt Broncos bus crash in 2018 says they are 'thankful' for a decision by a Calgary immigration board to deport the driver of the truck involved.
Fatal plane crash reported near Squamish, B.C.
The Transportation Safety Board of Canada has confirmed it is working with local Mounties and the BC Coroners Service after a plane crash near Squamish, B.C. Friday night.
'God forgives but we don’t': Loud outburst from stabbing victim’s family during sentencing hearing
An emotional outburst in a London, Ont. courtroom Friday disrupted the sentencing hearing of a woman who pleaded guilty for her part in the death of 29-year-old Mohammed Abdallah.
Three dead after vehicle plunged down a 100-foot embankment in Shediac, N.B.
Three people have died after a vehicle veered off the road in Shediac N.B., Friday morning.
Appeal denied for Edmonton soldier accused of trying to kill her 3 children
An Edmonton woman found guilty of trying to kill her three children has been denied an appeal.