A Brampton man is wanted after he allegedly tricked a Durham Region investor into transferring $200,000 to him to fund a fraudulent trucking and transportation business.
Durham Regional Police said they launched an investigation into the accused in January.
The man allegedly told the investor that he would receive a $1 million banking business loan and claimed that he had multiple contracts in place for transportation services with multiple businesses.
“The suspect convinced the victim to partner in the business and transfer over $200,000 in funds to assist with business start up costs,” police allege in a news release on Wednesday.
The investigation has since determined the bank contacts and business contracts were all fraudulent, and no business loan was issued.
The suspect has been identified as 35-year-old Sahil Thakur.
He is wanted for obtaining funds by false pretences over $5,000, possession of proceeds of property obtained by crime over $5,000 and fraud over $5,000.
Anyone with information about his whereabouts is asked to contact police at 1-888-579-1520 ext. 5352 or Crime Stoppers anonymously.