A former mortgage agent is facing charges after she allegedly misled a victim to believe $25,000 of their money would be transferred to an investment company.

In a statement released on Thursday, York Regional Police say they launched an investigation into the case in January. Police say the accused, a 33-year-old Barrie, Ont., woman, was offering financial advice and setting up mortgage-backed investments.

"In this case, the victim gave $25,000 to the accused with an understanding that the funds would be transferred to a third-party investment company based in the Town of Whitchurch-Stouffville," police said in the statement.

Police allege that money was never transferred and was used by the Barrie woman for "personal purposes."

Lisa Pharand, who also goes by Lisa Cuff, has been charged with fraud and theft over $5,000.

Pharand is scheduled to appear in a Newmarket court on April 23.

Investigators believe there may be more victims. Anyone with information is asked to call police at 905-830-0303, ext. 6614 or Crime Stoppers at 1-800-222-TIPS (8477).