Elderly victims allegedly defrauded of $1.1M, Chatham man arrested
The Chatham-Kent police logo is shown in this file photo. (Courtesy Chatham-Kent police)
Chatham-Kent police have arrested a 67-year-old man after police say nine elderly victims were defrauded of over $1.1 million.
Officers arrested a man on Wednesday following a lengthy fraud investigation.
A woman contacted police in August, 2014 to report that she had been the victim of a fraud.
Through investigation, officers say they learned that the owner operator of ‘Ric Mahon Financial’ and ‘Tax Back Ventures’ on St. Clair Street in Chatham was using money given to him as a financial investor for his own personal use.
Since 2006, police say that nine elderly people have been defrauded – most of them are between the ages of 70 to 90.
The total investment by all the victims is over $1.1 million.
Richard Mahon, 67, of Alexandria Avenue in Chatham has been charged with nine counts of fraud over $5000 and criminal breach of trust.
He was transported to the courthouse pending a bail hearing.
Police believe there may be more victims and urge anyone with concerns or information to please contact Const. Gary Oriet at firstname.lastname@example.org or 519-436-6619.