A man from Oshawa is accused of defrauding victims of more than $2.5 million as part of an investment scam.
Durham police said their Financial Crimes Unit began an investigation in June of last year after two victims reported a male who told them he was a financial trader.
Police said the man told the victims he could guarantee “high returns on investments” through a platform called ‘Interactive Brokers.’
Between March 2023 and March 2024, investigators said the man allegedly “persuaded” victims to transfer him large amounts of money to be invested.
“The suspect told the victims to open accounts via ‘Interactive Brokers,’ where the suspect would have sole control over trading,” Durham Regional Police Service said in a release on Monday.
Police allege the man was able to entice his victims to transfer funds by driving luxury high-end cars and showing them forged investment return statements.
The suspect allegedly collected more than $2.5 million from victims over the year-long period, which police said he used to finance his “extravagant lifestyle.”
On Sept. 21, police arrested and charged Alex Noah Pekala, 23, of Oshawa, with two counts of fraud over $5,000.
He was held for a bail hearing. The charges have not been tested in court.
Anyone with more information is asked to contact the Financial Crimes Unit at 1-888-579-1520, ext. 5353, or Crime Stoppers anonymously.