Burlington Man Arrested for $1.6 Million Fraud
- Halton Regional Police Service
- Mar 24, 2021
- 1 min read
The Halton Regional Police Service – Fraud Unit has arrested a Burlington man in relation to a fraud investigation.
The accused was an investment industry professional who worked for a financial company that was registered with the Investment Industry Regulatory Organization of Canada (IIROC). Between 2011 and 2016, two victims invested a total of approximately $1.6 million with the accused to purchase insurance and other investments. The accused diverted the funds he received from the victims to his own bank accounts.
The fraud was discovered in 2016 when the victims learned that the accused had entered into a settlement agreement with IIROC which resulted in a permanent prohibition on registration with IIROC.
On March 17, 2021 Brian Kumar (47) of Burlington, was arrested and charged with:
Fraud Over $5000 (3 counts)
Kumar was released on an undertaking.
Anyone with information regarding this investigation is asked to contact Det. Constable Kevin Barkhouse of the Halton Regional Police Service – Fraud Unit at 905-825-4777 ext. 8912.
Tips can also be submitted anonymously to Crime Stoppers. "See something? Hear something? Know something? Contact Crime Stoppers" at 1-800-222-8477 (TIPS) or through the web at www.haltoncrimestoppers.ca.
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