Ontario Senior Loses $800,000 in Investment Scam, Police Say

A man checks on his mobile phone. Niek Verlaan/Pixabay

A senior was duped out of $800,000 after falling victim to an investment scam, police say.

Norfolk County Ontario Provincial Police (OPP) issued a warning to the public on Nov. 21 after a local senior reported being conned out of $800,000 from a telephone investment scam.

The victim reported receiving a call in August from a man who claimed to be an advisor of a financial institution selling bonds, according to media outlets.

The senior subsequently sent three separate money transfers to the individual totalling about $800,000, with the expectation to see a return on investment in November.

The would-be investor called the financial institution this month and was told that it was a fraud.

In a statement to media outlets, Norfolk OPP urged residents to keep their guard up against such scams.

“The OPP is reminding all Norfolk County residents to be extremely vigilant and to be alert for unsolicited calls, emails, or visitors that arrive at your residence. If anyone should receive a call in this manner, please contact your financial institution immediately,” police said.

“Modern, tech savvy scammers have personal information about you before they ever try to contact you. It is imperative to verify any unsolicited contact before you respond and provide information. Keep your guard up when you receive a surprise call from anyone soliciting funds for investment opportunities.”