A 45-year-old man from the Town of Whitchurch-Stouffville has been sentenced to six years in prison in a $1.2 million fraud investigation.
On Friday, November 4, 2016, Salim DAMJI, 45, appeared before the Honourable Justice Armstrong and was sentenced to six years in prison, and was ordered to pay full restitution to the victims. Mr. DAMJI plead guilty on Friday, October 7, 2016 to the charge of Defrauding the Public Over $5,000.
In April 2014, the York Regional Police Major Fraud Unit became aware of a suspect who had befriended a victim at a bar in Aurora. After several meetings with the victim, the suspect convinced her that if she invested money with him, he could generate significant short-term returns on those investments. The victim agreed and gave the suspect more than $50,000, which was transferred into various accounts the suspect provided.
It is believed the suspect used portions of funds collected from victims to pay other victims smaller amounts of money to show good return on their investments. As the investigation continued, 19 additional victims were identified who had all invested similar amounts of money. In these cases, once the money had been sent by cheque, cash or wire transfer, the suspect could no longer be reached.
Anyone with information can contact Detective Ken Bardai with the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6671, 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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