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Halton Police say investor scheme took victims for $1.3 million

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Halton Police say investor scheme took victims for $1.3 million

A three-year investigation by Halton Regional Police has shutdown a scheme they believe defrauded victims of $1.3 million.

Police say victims were tricked into investing into an illegitimate stock market program that, despite initial small returns, never panned out. The money victims invested was instead allegedly used for personal and financial gain by the person who has since been charged.

Arrested is Francesco “Frank” Perre, 56, of Burlington.

He has been charged with six counts of fraud over $5000 and misappropriation of funds.

He is scheduled to appear in Milton court on December 23.

Police say others who may have been caught in the scheme should contact Detective Constable Garry Hans of the Regional Fraud Unit at 905 825 4747 ext. 8742.

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