More than 100 people defrauded of $6 million in securities scam, RCMP say

LONDON, Ont. — The Royal Canadian Mounted Police say a Toronto man is charged with defrauding more than 100 people across the country of more than $6 million.

The Mounties say the investigation began in April 2017 when a London, Ont., resident alerted police to an elaborate $1-million fraud scheme based on fraudulent securities and options trades.

Police allege the suspect used aliases and forged sales receipts to lure the victim to invest money into non-existent trades.

Investigators say they have identified more than 100 alleged victims, who each lost thousands of dollars to fake futures trades.