A man has been arrested and charged in connection with an alleged car insurance scam in Toronto.
Police say an elderly man was posing as an insurance broker while selling fake coverage to Toronto drivers.
He was collecting monthly cash payments from his victims who thought the payments meant their vehicle was insured, they said Tuesday.
In exchange for the payments, police allege he gave his "clients" counterfeit insurance cards, known as "pink slips."
The scam was uncovered after several claims were made by victims who thought they were insured, only to find out that their policies were bogus. As a result, insurance companies have had to pay out more than $1 million to cover claims made by victims of the scam.
Police have not revealed the exact number of victims, but said Tuesday that they believe a "significant number" of people are still driving vehicles they falsely believe are insured.
Police have asked anyone with more information to contact them at 416-808-2222, or call Crime Stoppers anonymously at 416-222-8477 (TIPS).
Alexandr Chertin, 73, has been charged with two counts of defrauding the public over $5,000, two counts of fraud over $5,000 and two counts of uttering a forged document. He is scheduled to appear in Old City Hall court on Nov. 25.
