Arrest warrants have been issued for a husband and wife who police believe ran a fraudulent financial investment company in Scarborough.

Police in Toronto say the pair operated a company called Keystone Financial Services out of an office located in the Warden Avenue and Sheppard Avenue East area sometime between 2014 and 2016.

During this time, police allege the husband and wife encouraged clients to invest their money in a variety of financial investment plans and mortgage brokerage.

At some point, an investor attempted to call the offices belonging to Keystone Financial and discovered the company had closed down. That client then contacted police.

Investigators say they later determined that the investment plans the company offered were fraudulent.

“They were promising them second, third, forth mortgages on premises. They were promising people investment opportunities in different complexes – apartment complexes, hotel complexes,” Det. Const. Stuart Fleming told CTV News Toronto.

“They were actually very clever about it. They had some documents to back it up.”

Some of the victims lost their life savings as a result of the scheme and others are at risk of losing their homes, police say

According to the Financial Commission Services of Ontario, Keystone Financial Services mortgage administrator licence was revoked in January.

Two suspects, identified as Khurt Comrie, 40, and Collett Comrie, 44, both of Pickering, are wanted on charges of fraud over $5,000.

Anyone who believes they may be victims of the scheme or has any information about the investigation is being asked to call police or Crime Stoppers.