Three additional arrests have been made, including one in Mississauga, as provincial police continue to investigate a 2025 investment scam in which the victim was cheated out of $500,000.

The latest pair of arrests came on Sept. 4 and Sept. 10 after Wellington County Ontario Provincial Police officers executed search warrants in Vaughan and London, respectively, police said on Tuesday.

On April 16, police made a second arrest in the case, taking one person into custody after executing a search warrant at a Mississauga address.

On March 27, police descended on a Brampton home and subsequently arrested one person.

The four arrests have been made in connection with a Wellington County OPP fraud investigation that began in October 2025 when officers looked into a reported investment scam involving a victim in Puslinch Township, south of Guelph.

Police said the victim is believed to have lost around $500,000.

After further investigation, Ontario Provincial Police said they “discovered evidence of money laundering.”

In executing the March 27 search warrant in Brampton, police seized a large stash of Canadian cash, high-end clothing and purses, several electronic devices and personal documents, OPP said in a news release on Tuesday.

During their latest search and arrest, on Sept. 10 in London, officers seized “offence-related property” including several electronic devices and various documents with an estimated value of $8,000, police said.

Basit Balogun, 29, of Brampton, is charged with:

Laundering proceeds of crime.
Possession of proceeds of property obtained by crime over $5,000.
Fraud over $5,000.

Olufunmi Ogunbayo, 34, of London, who was arrested in Mississauga, is charged with:

Possession of property obtained by crime under $5,000.
Laundering proceeds of crime.

The accused was released from police custody and is scheduled to appear in court on Oct. 23.

Samuel Owoade, 28, of Vaughan, is charged with:

Fraud over $5,000.
Possession of property obtained by crime over $5,000.
Laundering proceeds of crime.

The accused was released from police custody and is scheduled to appear in court on Nov. 27.

Babatunde Ogunbayo, 31, of London, is charged with:

Laundering proceeds of crime.
Possession of property obtained by crime over $5,000.

The accused was held in police custody and made a first court appearance on Sept. 11.

The investigation is ongoing, police said.

Anyone with information in relation to this incident is urged to call Wellington County OPP at 1-888-310-1122 or Crime Stoppers anonymously at 1-800-222-8477.


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