(ORILLIA, ON) – The Ontario Provincial Police (OPP) Anti-Rackets Branch (ARB) Economic Crimes and Corruption Unit has laid charges in a multi-jurisdictional fraud investigation.
In July 2018, the North Bay OPP Detachment received several fraud complaints in relation to a $6 million-dollar syndicated mortgage investment into BioNorth Technology Real Estate Ltd (2423704 Ontario Inc.), also operating as the BioNorth Tech Group.
In January 2019, the OPP’s ARB Economic Crimes and Corruption Unit assumed the investigation due to its complex and multi-jurisdictional nature.
As a result of the investigation, police charged one person under the Criminal Code in connection with the investigation.
Francesco (Frank) Benincasa, age 59, of Concord, Ontario, has been charged with the following offences:
- Fraud Over $5000
- False Pretences
- Use of a Forged Document
The accused was arrested on March 13, 2024, and was subsequently released from custody and is scheduled to appear before the Ontario Court of Justice in North Bay on April 30, 2024.
According to the Canadian Anti-Fraud Centre (CAFC), Canadians reported losing more than $568 million to frauds in 2023. It is estimated that only five to 10 per cent of victims report frauds to the CAFC or law enforcement.
Anyone who suspects they have been the victim of this or any fraud is urged to contact their local police, the OPP at 1-888-310-1122 or Crime Stoppers anonymously at 1-800-222-TIPS (8477) or ontariocrimestoppers.ca. You can also report to the Canadian Anti-Fraud Centre’s online reporting system or by phone at 1-888-495-8501. For resources on scams and fraud, visit antifraudcentre-centreantifraude.ca.
