Police in Ontario have laid charges against a man who allegedly defrauded dozens of people of $20 million.
York Regional Police said 42-year-old Derek Scheinman ran a company called New Horizons Mortgage Investment Corporation.
In 2017, police launched an investigation after a woman came forward alleging she had fallen victim to a mortgage fraud investment scam.
Throughout the investigation, police said they found 33 victims, who Scheinman had allegedly defrauded of a total of $20 million.
Police arrested Scheinman in Barrie, Ont. on July 31. On Friday, investigators announced he had been charged with defrauding the public, fraud over $5,000, possession of the proceeds of crime, laundering the proceeds of crime, and falsification of documents.
His first court appearance was scheduled for Aug. 9.
Police say that the investigation is ongoing, and urge anyone else who may have been a victim to contact them.
