$2,000,000 Ponzi Scheme – Gerrard MOK Arrested

Investigators with the York Regional Police #5 District Criminal Investigations Bureau and the Major Fraud Unit have charged a 68-year-old man from the Town of Milton in connection with a $2 million dollar investment fraud.

In April 2015, officers began an investigation after receiving information about a possible fraud involving a financial advisor. Investigators believe that between 2002 and 2014 the accused acted as a financial advisor and ran a mortgage-based investment scheme. The victims were convinced to invest large amounts of money with the accused and were advised that they would be receiving income from those investments. Eventually, in 2015, the income payments stopped and the victims became suspicious.

Through the investigations, officers discovered that the accused was operating a Ponzi scheme and was paying off victims using money from other victims and no properties existed behind any of the mortgages.

York Regional Police have identified more than 20 victims in York Region, Peel, Halton, Toronto and Wellington County. Many of the victims are elderly people who relied on this money for their retirement.

On Wednesday, August 10, 2016, the accused was arrested at his residence in Milton with the assistance of Halton Regional Police.

Charged:

Gerrard MOK, 68, Town of Milton

Charges:

Defraud the Public

The accused has been held in custody and will be appearing before the Ontario Court of Justice in Newmarket on August 11, 2016.

Anyone with information is asked to contact the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6612 Crime Stoppers at 1-800-222-TIPS, leave an anonymous tip online at www.1800222tips.com, or text your tip to CRIMES (274637) starting with the word YORK.

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