West Nipissing man charged with fraud by OPP: complex investigation

A police image of an Ontario Provincial Police crest with the flashing blue and red lights of a cruiser behind it indicating an ongoing fraud investigation. (Ontario Provincial Police/Facebook)

Ontario Provincial Police say a 45-year-old man has been charged after what they call a complex financial investigation involving a local construction business in West Nipissing.

“An investigation began in February by officers into allegations of fraud by the business involving the diversion of funds, resulting in significant financial losses to clients, subcontractors, suppliers and creditors,” police said in a news release Wednesday.

Police said it was a ‘phoenix-style’ fraud scheme, where a business accumulates debt and financial obligations before ceasing operations and re-emerging under a new structure.

As a result, a 45-year-old West Nipissing man faces three counts of fraud over $5,000, fraudulent concealment and theft by a person required to account.

The accused is scheduled to appear in a North Bay court on Sept. 3.

To report a similar incident or if you have information related to a scam, you can call OPP at 1-888-310-1122 or contact Crime Stoppers anonymously. You can also contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or online.

“The OPP reminds you to exercise caution when entering into financial agreements or construction contracts,” said police.

“Consumers are encouraged to conduct due diligence, verify business credentials and maintain detailed records of all transactions.”

To learn more about fraud prevention and how to keep yourself protected, please visit OPP.ca.