A 59-year-old man from Concord, in Vaughan, faces several fraud-related charges following a multi-jurisdictional investigation led by the Ontario Provincial Police anti-rackets branch (ARB) economic crimes and corruption unit.
In July 2018, North Bay OPP received several fraud complaints in relation to a $6-million syndicated mortgage investment into BioNorth Technology Real Estate Ltd. (2423704 Ontario Inc.), also operating as the BioNorth Tech Group, according to an OPP news release.
In January 2019, the OPP's ARB economic crimes and corruption unit assumed the investigation due to its complex and multi-jurisdictional nature.
As a result of the investigation, police charged Francesco (Frank) Benincasa with fraud over $5,000; false pretence and use of a forged document, police said.
The accused was arrested on March 13 and was subsequently released from custody and is scheduled to appear before the Ontario Court of Justice in North Bay on April 30, police said.
Anyone who suspects they have been the victim of this or any fraud is urged to contact their local police, the OPP at 1-888-310-1122 or Crime Stoppers anonymously at 1-800-222-TIPS (8477) or ontariocrimestoppers.ca. You can also report to the Canadian Anti-Fraud Centre's online reporting system or by phone at 1-888-495-8501. For resources on scams and fraud, visit antifraudcentre-centreantifraude.ca.
