Police are searching for a man in his 40s in connection with an alleged scam that defrauded investors of more than $150,000.

Durham Regional Police said a male suspect defrauded at least six people between 2008 and 2013. The man told investors he was an officer with Nero Financial Incorporated and KMOS Group Incorporated.

Police say elderly people were told to invest more than $20,000 each in an opportunity that would double their money in six months.

He stayed in contact with the victims for several months, then ended all contact abruptly.

On Tuesday, police issued a warrant for the arrest of 44-year-old Oren Anthony Callender, of Ajax. Callender has been charged with six counts of fraud over $5,000.

The investigation is ongoing, and anyone with new information is asked to contact police at 1-888-579-1520, ext. 5353, or call Crime Stoppers anonymously at 1-800-222-8477 (TIPS).