Man charged with fraud after allegedly posing as private investor: Toronto police

Toronto police have released an image of a man charged in a fraud investigation. (Toronto Police Service handout)

Toronto police say a man posing as a private investor who claimed to purchase vacant land with his victims’ purported returns is now facing several fraud-related charges.

According to police, a suspect claimed to be a private investor with a company called 10000272 Canada Inc. Norstar Financial Security.

Victims, police said, would invest money into the business and were promised returns on the investments.

“The suspect then claimed he was using the victims’ returns to purchase vacant land,” police said in a news release issued Monday.

Investigators say the suspect “produced false documents” to the victims but they never saw any returns from the man.

An investigation began in August 2024 and on March 3,2026, Neilay Modi, a 50-year-old Markham resident, was arrested. He faces four counts of fraud over $5,000, four counts of possession of proceeds obtained by crime, and three counts of forgery.

He is scheduled to appear in court in May.

Police said they believe there may be more victims and have now released an image of the suspect.

Anyone with information about the case can contact policed at 416-808-1100, police noted.