Hamilton police have arrested a car salesman as part of an investigation into an alleged fraud in which luxury vehicles were purchased under stolen identities and then re-registered or exported overseas.
A 44-year-old man from London, Ontario, is facing several charges, including 14 counts of fraud over $5,000 and obtaining credit by fraud.
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Police allege the representative used his position at a local dealership to fraudulently acquire fourteen luxury vehicles between November 2023 and March 2024.
They say the purchases were allegedly financed with loans taken out under stolen identities without the victims’ knowledge, in a scheme that left the dealer and financial institutions in losses of $1.5 million.
Police say only one vehicle has been recovered so far and most of them have been exported out of the country or re-registered.
Police say the investigation remains active and more arrests are expected.
© 2024 The Canadian Press
