A financial advisor from Severn Township, Ont., has been arrested following a 16-month investigation into allegations of large-scale fraud totaling more than $1.8 million.
According to Orillia OPP, 40-year-old Kevin Douse defrauded several clients by asking them to make investment cheques payable directly to him rather than legitimate investment companies. Police allege Douse also falsified and forged investment and insurance documents to cover up the misappropriation of funds. Investigators say his alleged fraudulent activities may have impacted additional members of the public beyond his immediate clients.
In total, Douse faces eleven counts of uttering forged documentation. Police believe the total sum of misallocated funds exceeds $1.8 million.
“It is essential to confirm that your investment funds are being directed into the products you intended,” said Detective Constable Russ Rogan of the Orillia OPP Crime Unit. He advised investors to regularly review their statements, whether by mail or through secure online portals, and to monitor all transactions closely.
The OPP also reminded the public that financial fraud often goes unnoticed, particularly among vulnerable individuals. They recommend that a trusted family member or advisor regularly review online accounts for those who may not be tech-savvy, and that investors insist on receiving detailed documentation and clear records for every investment.
Kevin Douse is scheduled to appear in court on June 10 in Orillia.