Investigators from the Peel Regional Police Fraud Bureau are seeking victims of a Ponzi Scheme that was in operation from January 2014 to October 2014.
Police have located 24 victims of this scheme, in which victims are asked to provide money in exchange for a very high rate of return. This makes the investment enticing. The culprits posed
as a successful overseas investor or CSIS Officer (Canadian Security Intelligence Service) who has access to unclaimed government money. A total of approximately 4 million dollars was taken from the victims that have come forward.
Shafi Shauaib, 27 years-old of Vaughn, has been charged with Fraud Over $5,000.00, Personate Peace Officer, Forcible Confinement, Use Imitation Firearm, Laundering Proceeds of Crime X 2, Possession of Property Obtained by Crime and Public Mischief. Shabnam Shafi, 41 years-old of Mississauga, has been charged with Fraud over $,5000.00 and Laundering the Proceeds of Crime. They were both arrested on Monday, May 7, 2015, and held pending a bail hearing at the Ontario Court of Justice in Brampton on Friday, May 8, 2015.
Investigators are concerned that there may be further victims, and are asking victims to come forward to police. If you have been a victim of this scheme you should contact the Fraud Bureau at (905) 453-2121, ext. 3335, to speak with an investigator.