Police are searching for a Brampton man in connection with an alleged fraud that saw an investor lose more than $200,000 in a fake trucking business scheme.
Investigators with the Durham Regional Police Service say the case began in late January when their Financial Crimes Unit launched an investigation into a suspected business fraud.
Alleged fake business and loan claims
According to police, the suspect claimed he was starting a trucking and transportation company and convinced an investor to partner in the venture.
The investor was told that:
- a $1 million business loan had been secured
- multiple transportation contracts were already in place
- funds were needed for startup costs
Based on these claims, the victim transferred over $200,000 to support the business.
However, investigators later determined that:
- the banking contacts were fraudulent
- the business contracts did not exist
- no loan had been approved
Suspect identified and wanted
Police have identified the suspect as Sahil Thakur, 35, of Brampton.
He is wanted on multiple charges, including:
- fraud over $5,000
- obtaining funds by false pretences
- possession of proceeds of crime
Public asked for assistance
Authorities are asking anyone with information to contact the Financial Crimes Unit or reach out anonymously through Crime Stoppers.
The case highlights ongoing concerns around investment scams and fraudulent business opportunities, particularly those involving promises of high returns and secured financing.