OPP have charged five people after investigating a property fraud surrounding the restoration and sale of a vacant commercial property on Lakeshore Road, in Haileybury.
The financial loss is approximately $7.5 million dollars.
Back on February 1, 2013, members of the OPP Temiskaming Crime Unit were called to investigate a fraud.
After a lengthy investigation that had been ongoing for approximately three years, police executed several search warrants and charged five people with a total of 60 Criminal Code offences.
At this time, Arash Missaghi, 45, of Richmond Hill has been arrested and charged with:
- Participate in a Criminal Organization
- Fraud Over $5,000 – (6 counts)
- Fraud Under $5,000
- Obtaining by False Pretence
Missaghi is in custody and will appear today at the Ontario Court of Justice in Haileybury for a bail hearing.
Further details will be provided as they become available.
The OPP North East Regional Support Team (NERST), The North East Intelligence Unit and The Financial Transactions and Reports Analysis Centre of Canada (F.I.N.T.R.A.C.) helped with this ongoing investigation.
See related article in the Toronto Star.