Man charged after allegedly defrauding elderly woman of $60,000

A 75-year-old man from Oshawa faces fraud charges after police say he convinced a 95-year-old woman to “invest” $60,000 with him.

According to Durham Regional Police, the accused befriended the victim and posed as a financial advisor, starting in November of 2019. After receiving the first payment of $60,000, he allegedly convinced the victim to invest an additional $50,000.

The victim’s financial institution, suspecting elder abuse, prevented the completion of the second transfer, according to DRPS. Police were then contacted.

Police say the suspect is known to present himself as the owner of a company named “SafeGard Protection”, a company that does charitable work. However, according to DRPS, the suspect is not operating a registered company or charity

Garry Beach, 75, of Oshawa was arrested and is charged with fraud over $5,000, attempted fraud over $5,000, possession of proceeds of crime and false pretenses over $5,000. He was held for a bail hearing.

Investigators want to ensure that there are no further victims.

Anyone with new information about this investigation is asked to contact D/Cst. Franssen of the Financial Crimes Unit at 1-888-579-1520 ext. 5356.

Anonymous information can be sent to Durham Regional Crime Stoppers at 1-800-222-TIPS (8477) or online at http://www.durhamregionalcrimestoppers.ca and tipsters may be eligible for a $2,000 cash reward.

%d bloggers like this: