Toronto-area police bust 14 fraudsters

The search continues for 20 others suspects in a $10 million fraud investigation.

York Regional Police in Toronto have arrested 14 people and laid 145 charges in a $10-million fraud investigation.

Police allege the suspects used government identification obtained with forged passports to defraud financial institutions, corporations, government agencies and insurance companies.

Investigators say suspects opened bank accounts under false names, staged over 100 collisions to defraud the insurance industry and leased vehicles under aliases to defraud leasing companies.

Police allege Vladimir Loginov, 39, of Richmond Hill, was responsible for forging foreign passports. Investigators say their probe turned up a fully functional document forgery laboratory believed to be operated by Loginov.

Charges faced by the accused include fraud, forgery and identity theft.

Police say they are looking for another 20 suspects.

IBC congratulates police

Insurance Bureau of Canada’s (IBC) vice president, investigative services, Rick Dubin stated York Regional Police have sliced off  “another major tentacle of fraud.”

“Organized insurance fraud is big business in Ontario and, specifically, the GTA,” said Dubin. “And their crimes drive up the cost of insurance for everyone.”

Earlier this year, the Ontario government established the Auto Insurance Anti-Fraud Task Force to examine the problem and make recommendations. IBC backs the initiative.

If anyone suspects an insurance crime, they should phone IBC’s anonymous, 24-hour TIPS line toll-free at 1-877-IBC-TIPS (422-8477).

With files from The Canadian Press.

A TC Media site,
Business Solutions

TC Media

Transcontinental Media G.P
1110 René-Lévesque Bldv W.
Montréal, QC H3B 4X9
(514) 392-9000