TORONTO -- A Toronto man is accused of scamming a woman out of tens of thousands of dollars and police are concerned there may be other victims.

In February of 2015, police said that a man met with a woman and claimed to be an investor named “Ari Archer.” The woman gave the man $59,000 to invest on her behalf, police said.

Police said that a short time later, the woman began to doubt Archer’s legitimacy. She told police that she confronted the man and asked for her money back.

The man continued his “ruse” and claimed the money was tied up in an investment, police said.

In September of 2019, Toronto police launched an investigation into the incident.

On Tuesday Sept. 10, 38-year-old Toronto resident Arash Mahdieh was arrested. He is charged with fraud over $5,000.

Police say they are concerned that there may be other victims..

Anyone with information related to Mahdieh is asked to contact police at 416-808-5200. Anonymous tips can also be left through Crime Stoppers at online or at 416-222-TIPS (8477).