Toronto has become a frequent setting for fraudulent activities which for the most part are presented as “investments” or some other attractive financial transaction. Our experience shows that those targeting individuals as potential victims of fraud often seek to gain the victim’s trust and comfort by associating with or holding out an association with large, well known and established entities.
Well known scams, such as “Ponzi schemes”, employ techniques which seek to demonstrate apparent legitimacy, where none exists. Grandiose, but fraudulent, representations of past dealings and promised returns on investment are the hallmarks of such frauds. Often a small “payment” is made from the fraudulent scheme, to seek to avoid the concern and remorse a victim has about the represented investment.
The courts have identified a well established and growing list of so-called “badges of fraud”, those things which the courts typically identify and associate with the workings of a fraudulent scheme despite an outward appearance of legitimacy.
Often the victims are not ordinarily present in Toronto, making it less likely that they will pursue the perpetrator of the fraud in Toronto. Other times the victim has not even made an investment, but has his or her assets exposed by fraudulent activity.
We know that victims sometimes are reluctant to admit that they have fallen prey to fraudulent schemes or to make public their loss. Those who perpetrate fraudulent activity bank on that.
Don’t be a victim again by doing nothing about your loss. We have considerable experience in acting for victims of fraud. Call us today for a confidential initial consultation.
Ruzbeh Hosseini, B.Sc., J.D., LL.B.
Brief informational summaries about commercial and other litigation matters in the courts of Ontario and other developments are periodically published on this website. They are intended to be a general comment or general discussion, not legal advice and should not be relied upon as legal advice. Should you require legal advice, please contact info@heydary.com or 416 972 9001.