A Richmond Hill man is facing fraud charges after he allegedly scammed two people out of $80,000 in a scheme that police say may have targeted the Iranian community.
York Regional Police began an investigation in October 2018 after a person came forward reporting an investment fraud.
Police allege the first victim was convinced to give the suspect $44,000 USD to invest. Police say the victim was promised a high return on the investment.
Police allege once the victim handed over the money, the suspect stopped answering his calls.
Omid Mahmoud-Kashani, 33, was arrested and charged with fraud over $5,000 in January.
In May 2019, police said a second victim came forward to report she had lost money in an investment fraud.
Investigators allege in late 2018 and early 2019, Mahmoud-Kashani befriended the victim and convinced her to invest $36,000 through him.
Mahmoud-Kashani has been charged with another count of fraud over $5,000 in connection with the second victim’s case.
Investigators believe the suspect was allegedly targeting members of the Iranian community and that there could be more victims.
Mahmoud-Kashani is expected to appear in court on Wednesday.
Anyone with information is being asked to contact the York Regional Police Financial Crimes Unit at 1-866-876-5423.